Green Is The New Gold

The finance industry has finally awakened to the need to have sustainability-related funding solutions and architecture can help to drive it.

- David Ho

The world is going in a greener direction and the architecture industry is following suit.

In Singapore, the government is working on making capital more accessible for firms that are developing projects with “positive environmental impact” as its goal.

It is providing 70 percent risk-share for loans made by participating financial institutions to local firms, according to Enterprise Singapore.

The Enterprise Financing Scheme-Green (EFSGreen) will be supported by partner financial institutions, such as DBS, HSBC, OCBC and UOB.

The EFSGreen covers those developing green infrastructure, along with project developers for clean energy, circular economy and clean transportation.

It is open for applications from now till 31 Mar 2024.

“Demand for green solutions is set to grow globally as countries and industries strive to set practices and targets to control the adverse impact that emissions have on global warming,” says Png Cheong Boon, the CEO of Enterprise Singapore.

“EFSGreen is meant to enable green technology innovators in Singapore to have easier access to green financing, in order to create ever-evolving, ever-improving solutions

“These enterprises are pushing new boundaries and bearing additional risks in enabling technologies for the transition towards a green economy.

“This in turn will help other enterprises adopt green solutions and capture opportunities globally.”

Across the border, Malaysia’s CIMB Group Holdings has committed to a RM30 billion ($7.16 billion) target for its sustainable finance offerings by 2024.