More govt co-funding for SMEs investing in energy-efficient technologies

SMEs can now receive co-funding of up to 30 per cent of their investments in energy efficient technologies, up from 20 per cent, Singapore's National Environment Agency (NEA) said on Friday.

The increase takes effect from April 3, 2017, as part of a change to the Energy Efficiency Fund. The application process for the fund has also been streamlined.

Improving the energy efficiency of the industrial sector - the largest consumer of energy that accounts for 60 per cent of Singapore's greenhouse gas emissions - is one of the key ways to reduce emissions and fulfil Singapore's pledge[1] under the Paris Agreement on climate change, NEA said.

Singapore has formalised its pledge to reduce its emissions intensity by 36 per cent from 2005 levels by 2030, and to stabilise greenhouse gas emissions with the aim of peaking around 2030.