New Financing Scheme and Minimum Standards for Existing Buildings Announced at the International Green Building Conference 2011

September 14, 2011 by  
Filed under Insights

Minister of State for National Development and Manpower, BG (NS) Tan Chuan-Jin announced a new financing scheme and minimum Green Mark standards for existing buildings at today’s opening of the International Green Building Conference (IGBC) 2011, which is part of the annual Singapore Green Building Week.

In the Singapore Sustainable Blueprint, the government has set a target to green 80% of Singapore’s buildings by 2030. 95% of Singapore’s building stock are existing buildings. The challenge is how to green the existing buildings, given the higher cost of retrofitting and the lack of financing.

To help existing building owners overcome the barrier of high upfront retrofitting costs, BG (NS) Tan announced that the Building and Construction Authority (BCA) will launch a pilot scheme from 1 Oct called the Building Retrofit Energy Efficiency Financing (BREEF) Scheme. Read more