Travis Teo Channel NewsAsia 3 Nov 10;
SINGAPORE : Turning "green" has caught on with more big businesses globally.
For some, their initiatives are not only saving costs and the environment, but can also be a source of new income for companies that sell their green technology to other companies.
This is a growing trend highlighted by industry watchers at a conference for environmental sustainability and business practices.
Singapore company Senoko is generating more than just electricity by using its environment-friendly combined cycle plant.
The plant uses natural gas which produces less carbon emission compared to the traditional fuel oil.
The plant has also been generating cost savings due to the higher efficiency of using natural gas.
Eu Pui San, managing director, Senoko Energy Supply, said: "So on top of the economic benefit of higher efficiency, the combined cycle plant has resulted in Senoko having an overall reduction in the carbon emission by more than 40 per cent since the 1990s."
Industry experts said the technology can potentially be exported to other power generating companies in the region, creating a new revenue stream for Senoko.
Tay Kah Soon Victor, chief operating officer, Singapore Business Federation, said: "On the objective of profit itself and as well as being sustainable, these two are not divergent goals. There are ways to intersect them.
"We have seen quite a few companies which have done it to a certain extent. We see an increasing trend - in fact, some of them are telling us it is an inevitable trend."
Going forward, experts said proactive government policies will be key in boosting the number and use of such green technology.
Dorjee Sun, chief executive, Carbon Conservation, said: "Green funds - these initiatives are great. The Singapore government is extremely proactive in terms of wanting to make Singapore a green hub.
"So EDB, the Economic Development Board of Singapore, attracted us to Singapore by providing us with grants in order to make Singapore a green hub in the region."
Specifically, the Singapore government has set aside S$700 million to develop research & development and manpower training in the "clean technology" sector last year.
Experts said this has made green technology cheaper and more accessible for companies.
- CNA/al
