SINGAPORE - Singapore announced an allocation of $102 million for green building initiatives at the opening of the annual Singapore Green Building Week yesterday.
During the opening of the event, Singaporean Minister for National Development Khaw Boon Wan said that $52 million will go to a Green Buildings Innovation Cluster which is hoped to push breakthroughs in new green technologies with experimental buildings.
As part of their third Green Building Master Plan, also announced yesterday, the minister said that $50 million will go to phase 2 of their Green Mark Incentive Scheme for Existing Buildings and Premises, which promotes energy efficient retrofits for building owners and tenants, especially small-and-medium enterprises.
The 7th Build Eco Xpo and the International Green Building Conference was also launched in conjunction with Singapore Green Building Week.
"The international Green Building Conference and BEX Asia 2014 offer a useful platform for experts and practitioners to share solutions and best practices against the twin global challenges of climate change and intensified urbanisation," said Khaw.
"These are complex issues without simple solutions and they require all of us in the global community to work together to find practical answers," he said.
The Singapore minister said that green buildings are designed, built and run to reduce harmful impacts to our environment by using less electricity and water. "They contribute to the global efforts to reduce carbon emissions that cause climate change," he said.
He noted that green buildings also provide a better indoor environment. "Researchers observe how green buildings can contribute to the health, well being and productivity of their users. If designed and run well, green buildings can save money, increase comfort and create healthier environments for our people to live, work and play in," he said.
The events were organised by the Building and Construction Authority of Singapore in partnership with Singapore Green Building Council and Reed Exhibitions. Singapore Green Building Week is expected to attract more than 22,000 participants from 50 countries from a total of 17 co-located events.