SMEs go green through the help of a $50 million incentive

Building and Construction Authority(BCA) Singapore has offered a $50 million Green Mark Incentive Scheme for SMEs(small and medium enterprises). This a joint effort to encourage these businesses and other tenants of commercial buildings to adapt into a more energy efficient method.

It was launched on Sept. 1, 2014 during the Singapore Green Building Week 2014. Furthermore, the scheme will co-fund up to 50% of the retrofitting cost for energy developments, which will be up to $3 million for SME building owners and $20,000 for tenants and occupants.

Being under the third Green Building Masterplan, his program is expected to reach its target of 80% of green buildings by 2030, and achieving the the goal of “greening” the existing buildings in Singapore.
Meanwhile, new awards have also been introduced. Buildings that have done well when it comes to owner-tenant collaboration to achieve better total building performance, which includes switching and adopting green leases and obtaining certification for at least 50% of tenant spaces will be awarded by Pearl Prestige Awards and The Green Mark Pearl at the next years’ BCA Awards.

“As the population in Singapore increases, more focused policies and measures are needed to foster greater awareness amongst tenants and occupants. By proactively changing their energy consumption behaviour and practices, tenants and occupants can be part of the solution rather than the problem,” said by John Keung, Chief Executive Officer of BCA.
Source:Commercial Guru Singapore