Mr Kevin Hydes, Chair of the World Green Building Council,

Ladies and Gentlemen,

Good morning.

Introduction

1 It is my pleasure to be here with you this morning at this inaugural Breakfast Talk for CEOs organised by BCA.

2 This talk is timely as Singapore charts its future strategies for sustainable development. I see this talk as the start of a dialogue with the private sector about what we can do together to achieve sustainable development for Singapore in the years ahead.

3 For the past 40 years, Singapore has been able to achieve economic growth while maintaining a high quality of living environment. Going forward, sustainable development remains a key priority for the government. Recently, Prime Minister announced at the WEF in Davos that Singapore will establish an Inter-Ministerial Committee on Sustainable Development (IMCSD), which will be jointly chaired by Minister (MEWR) Yaacob Ibrahim and myself. The IMCSD will chart strategic directions and develop new initiatives for sustainable development. It will also co-ordinate inter-agency efforts to make the way we live, work, play and commute more environmentally sustainable.

Green Buildings Are Key to Our Sustainable Development Strategy

4 I would say that few cities have successfully achieved what Singapore has, that is, sustained economic growth together with a clean, green and liveable environment. We did so by getting key macro fundamentals right – these include an integrated and forward looking system of planning for landuse and key infrastructure and a commitment to greenery.

5 But, more can be done, especially at the micro levels – such as application of technologies and designs to our physical environment, as well as making greener choices individually. In this context, making our buildings green is integral to our sustainable development strategy for the future. As an urban city-state, the built environment is a major contributor of greenhouse gas emissions and consumer of resources. Properly designed and constructed green buildings will make a material difference to our sustainable development efforts.

6 It is for this reason that the BCA started the Green Mark Scheme in 2005 to encourage Singapore's construction industry to develop more environment-friendly buildings. I am very heartened that several companies are already taking the lead to promote environmentally friendly buildings. This is evident in the exponential rise in the number of projects submitted for BCA’s Green Mark assessment. There are currently over 200 projects awaiting assessment and close to 100 buildings have been certified since the launch of the Green Mark scheme. This is definitely an encouraging start.

Forming A Strategic 3P Alliance for Eco-Buildings

7 However, I would like to use this forum to challenge us to do more together. The government cannot single-handedly ensure sustainable development for Singapore going forward. We can only achieve sustainable development for the next 40 years through a strong partnership among the private, people and public sectors. In this regard, the government hopes to form a strategic partnership with the industry, and partner industry chieftains like all of you, to promote green buildings.

8 The world is moving in this direction. In the US, for example, there is a strong involvement of private organisations in the green building movement as part of their corporate social responsibility. I understand that in the past few years, an international green buildings movement has emerged and gradually gained momentum among companies across the world, with Green Buildings Councils being formed in several countries.

9 It also makes business sense to go green. Green buildings need not be expensive, as the talk this morning will show. Preliminary estimates from BCA show that, in Singapore, the cost premium for a basic Green Mark certified building is about 0.3 to 1 percent, with a payback period of 2 to 5 years.

10 The benefits arising from this small investment will go beyond the savings gained from reduced operating costs over the life cycle of the building. Environmental responsibility can help companies differentiate themselves from the competition and add value to their brand.

11 The third key partner in this effort to promote green buildings will be the consumers. A strong consumer demand is essential to sustain the momentum of the green building movement. Today, consumers in Singapore are becoming more environmentally conscious and discerning. Last year, HDB launched its first eco-friendly public housing precinct in Punggol. It marked a new milestone for HDB in its efforts to promote sustainable development in public housing. I am pleased to note that the response was very good. While the strong demand for public housing was a factor, it also reflects the growing environmental consciousness amongst Singaporeans.

12 BCA will continue to work on providing more information about green buildings and their benefits so that consumers can make “greener choices”. With rising concerns over the high cost of energy, an energy-efficient green building will help to lower the energy bills of their homes and offices. Promoting environmentally friendly buildings is thus truly a win-win-win.

Conclusion

13 I believe that with consumers, companies and the government working together in partnership, we can transform our built environment further in the years ahead, and become a leading model eco-city in Asia. Today’s seminar provides an excellent opportunity to share our vision of sustainable devleopment, and to engage the leading minds of the industry on how we can all work together towards this aim.

Thank you.

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