Energy efficiency standards vary for MNCs and SMEs, say business leaders

Singapore

EVEN as Singapore looks to introduce new energy efficiency initiatives to reduce the carbon intensity of its economy, business leaders noted that the level of energy efficiency standards differs widely between multinational companies and small and medium enterprises (SMEs), and suggested a differentiated approach to both.

The government is planning to amend the Energy Conservation Act this year to enable the country to meet its commitments under the Paris Agreement. Singapore has pledged to reduce its emissions intensity by 36 per cent by 2030, from 2005 levels under the international pact.