On 25 October 2022, Singapore announced its commitment to achieve: (i) “net zero emissions by 2050” as part of its Long-Term Low-Emissions Development Strategy; and (ii) “reduce emissions to around 60 million tonnes of carbon dioxide equivalent (MtCO2e) in 2030 after peaking emissions earlier” as part of the revised 2030 Nationally Determined Contribution.
To help Singapore meet its enhanced climate goals, Singapore also shared its National Hydrogen Strategy that aims to leverage the potential of hydrogen to guide and accelerate Singapore’s journey towards meeting our climate goals, while preserving and enhancing our energy security.
This Update outlines the key aspects of the National Hydrogen Strategy, and its potential significance to businesses. In addition, to help you better navigate the broader sustainability legal/regulatory landscape, we also broadly outline some key recent developments, namely, changes to the carbon regime and Singapore’s efforts to facilitate green finance.
For more information, click here to read the full Legal Update.
