Singapore Commits $800 Million To Accelerate Low-Carbon Technology Under RIE2030 Plan

Singapore has announced a major investment of $800 million over the next five years to accelerate the development of low-carbon technologies. The funding comes under the Decarbonisation Research, Innovation and Enterprise Grand Challenge (DGC), which is part of the country’s broader Research, Innovation and Enterprise 2030 (RIE2030) plan. The announcement was made during the Committee of Supply debate on March 2, 2026.

The main objective of the DGC is to strengthen research and development efforts in the power and industrial sectors. These sectors play a critical role in meeting the nation’s climate targets. The government plans to channel funds into key areas such as solar power, hydrogen energy, and carbon capture and utilization. Support will also be given to projects that improve energy efficiency, develop advanced energy storage systems, and modernize the national power grid so it can better integrate renewable energy sources.

A central feature of the programme is the Singapore Pilots for Energy and Enterprise Decarbonization initiative, known as SPEED. This scheme aims to close the gap between research and practical application by supporting pilot projects and real-world trials of new technologies. It will encourage cooperation among facility owners, private investors, technology providers, and government agencies. By doing so, the government hopes to speed up the commercialization of promising solutions and reduce the risks often linked to early-stage technologies.

The DGC is one of two grand challenges under the RIE2030 framework, underlining the government’s strong focus on innovation-led climate action. During the debate, ministers also shared updates on other measures supporting the country’s energy transition. These include developments related to carbon taxes, the use of biomethane, and feasibility studies on small modular reactors.

International collaboration is another important part of the strategy. Singapore is working to build partnerships for technology research and joint energy projects. Through this $800 million commitment, the country aims to reshape its energy system, lower emissions, and position itself as a regional leader in green technology while moving steadily toward its net-zero goals.