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OCBC building

In collaboration with SGBC Member OCBC, SGBC has launched the inaugural SGBC-OCBC Built Environment Decarbonisation Challenge, against the backdrop of the United Nations COP28 climate conference focusing on multilevel action, urbanisation and the built environment.

 The Challenge aims to expedite the adoption of sustainability solutions by identifying and supporting innovative technology solutions to decarbonise the built environment. Buildings account for 20 percent of emissions in Singapore and are a central focus of Singapore’s Green Plan 2030 to achieve net zero emissions by 2050.

From 6 December 2023 to 16 February 2024, companies are invited to submit proposals showcasing solutions that prioritise carbon abatement and energy efficiency in buildings while considering cost-effectiveness and practicality in terms of deployment and maintenance.

The winners of the Challenge will work with SGBC to have their solutions piloted at selected OCBC buildings, with the potential to scale up the solutions in all OCBC managed buildings or in other test bedding opportunities catalysed by SGBC. Winners will also receive funding of up to $80,000 each.

The Challenge is part of a broader collaboration between OCBC and SGBC, where a Memorandum of Understanding (MOU) was signed in November 2023 to jointly drive decarbonisation efforts in the built environment sector.

The MOU encompasses the following areas: the SGBC-OCBC Built Environment Decarbonisation Challenge, the sharing and transfer of knowledge on decarbonisation between SGBC and OCBC staff, bank clients and tenants, and the availing of green financing opportunities to SGBC’s network of member organisations.

Mr Lee Ang Seng, President of the SGBC, said: “It is heartening to witness OCBC’s efforts in expanding its decarbonisation efforts from operational emissions to now cover its real estate assets. We are excited to collaborate with OCBC on this endeavour to uncover sustainable and innovative solutions, which can not only contribute to OCBC’s decarbonisation roadmap, but also uncover solutions that will benefit the broader real estate sector and identify market-ready solutions for building owners seeking to retrofit their buildings.

For more information on the SGBC-OCBC Built Environment Challenge, click here.