Singapore Energy Lecture: 3 Key Announcements by DPM Lawrence Wong

Singapore's energy transition is well underway to achieving net zero by 2050. This was the key message delivered by Deputy Prime Minister and Minister for Finance Lawrence Wong in his Singapore Energy Lecture, which kicked off the 15^th edition of the Singapore International Energy Week (SIEW) 2022. DPM Wong unveiled a new, ambitious climate target for Singapore and a National Hydrogen Strategy, among other updates. Here are the top key announcements:

1. Singapore to enhance 2030 Nationally Determined Contribution Target

   Singapore will reduce its 2030 Nationally Determined Contribution (NDC) target to peak emissions of around 60 million tonnes of carbon dioxide equivalent (MtCO₂e) — a 5MtCO₂e drop from the existing NDC target. This announcement follows through on Singapore’s initial target to halve its 2030 peak greenhouse gas emissions by 2050, with the aim of achieving net zero by or around mid-century.  

   DPM Wong shared that Singapore will formally submit its latest climate goals to the United Nations Framework Convention on Climate Change (UNFCCC) in the upcoming 27^th United Nations Climate Change Conference (COP27). This takes place next month.

   The new climate target for Singapore builds on the recent Energy 2050 Committee Report that it is "technically viable" for Singapore to achieve net zero emissions by 2050, while maintaining energy security and affordability.

2. Low carbon hydrogen to supply up to 50% of Singapore's energy needs by 2050

   Hydrogen has the potential to supply up to half of Singapore’s power generation mix by 2050. This follows the Energy 2050 Committee Report’s suggested pathways to navigate future uncertainties, where low carbon hydrogen could contribute around 10% and up to 60% of Singapore’s energy supply mix by 2050. Singapore will take steps to prepare for hydrogen deployment domestically and work with partners to build a hydrogen supply chain in Asia.

   As part of Singapore’s National Hydrogen Strategy, the Government will launch an Expression of Interest (EOI) utilising low carbon ammonia for power generation. With this, Singapore may start to have access to electricity generated from low carbon hydrogen starting 2027.

   A further S$129 million will be set aside for Phase 2 of The Low-Carbon Energy Research Programme. The funding seeks to unlock technological bottlenecks for hydrogen adoption.

3. Development of hydrogen, ecosystems and infrastructure

   Singapore will work closely with industry and international partners to advance low carbon hydrogen developments. This includes Guarantee of Origin certification methodologies that are recognised by other jurisdictions and building a financial ecosystem to facilitate global trade of low carbon hydrogen. The country will also work with partners from the industry, unions, and the education sector to support workforce development and support the growth of the domestic hydrogen economy, to enable Singaporeans to seize new opportunities.

   In addition, the Government will develop long-term land and infrastructure plans to prepare for large-scale domestic deployment when the time is right. Towards this end, Singapore is expected to have its first hydrogen power plant by the first half of 2026.

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