COUNTRIES have pledged zero emissions by 2050 but the means to get there are vague. Businesses need specific details on the decarbonisation of economies to align their own strategies, to raise and make investments, and to participate with impact.

There are three main routes to decarbonisation. Energy efficiency is estimated to reduce emissions by 15-20 per cent. Deploying decarbonised technologies across all sectors contributes to a 40-45 per cent cut in discharges. And up to a 40 per cent emissions reduction is envisaged by transitioning from the current linear economy to a more circular one. Moreover, the circular industrial economy reduces dependence on virgin resources and generates resources from the solid waste generated by consumerism. A circular economy emulates the circularity of nature, wherein there is no waste, and dead matter becomes food for other animals or plants.

Singapore and others such as the European Union are pursuing green economic growth amidst global uncertainties and to demonstrate their responsible behaviour to improve the global commons. Green growth includes greening existing industries and creating new green industries.