The Singaporean Government has announced a SGD $100 million support package to accelerate green growth in the marine and offshore energy industries over the next five years, reports Safety4sea.
Initiative
The initiative was revealed by Minister of State Alvin Tan during Offshore Energy Week (OSEA) 2024. In his address, the Minister emphasized Singapore’s commitment to achieving net zero emissions by 2050. He underscored the pivotal role of the marine and offshore sector in this transition, particularly through contributions such as floating solar farms, offshore wind, tidal energy, and cross-border carbon capture, utilization, and storage solutions.
Minister Tan reiterated the government’s dedication to fostering innovation and sustainability in the industry, stating that the $100 million package will help enhance technological advancements in green vessels, drive the adoption of cleaner energy solutions, and expand Singapore’s fleet of sustainable vessels.
This initiative aligns with Singapore’s broader strategy to position itself as a global hub for green energy and maritime innovation while supporting its long-term environmental goals.
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Source: Safety4sea
