fbpx

Budget 2022: S’pore to build more EV charging points near homes

ev charging singapore

Singapore is planning to phase out internal combustion engine vehicles by 2040, as part of the Singapore Green Plan. In the meantime, significant incentives have been provided for electric vehicle (EV) adoption.

During his Budget speech, Finance Minister Lawrence Wong shared that the EV share of new car registrations jumped from 0.2 per cent in 2020 to around 4 per cent last year.

He said more charging points will be built closer to where people live, to further accelerate EV adoption. Green bonds can provide the financing for the necessary infrastructure upgrades.

The public sector will contribute to developing a robust green market by issuing up to S$35 billion in green bonds by 2030 to fund public sector green infrastructure projects.

This will include bonds issued by the Government and statutory boards. Mr Wong said the Government will publish a Singapore Green Bond Framework and issue its first green bond later this year.

Featured Image Credit: SP Group

Subscribe to our newsletter

Stay updated with Vulcan Post weekly curated news and updates.

MORE FROM VULCAN POST

Vulcan Post aims to be the knowledge hub of Singapore and Malaysia.

© 2021 GRVTY Media Pte. Ltd.
(UEN 201431998C.)

Vulcan Post aims to be the knowledge hub of Singapore and Malaysia.

© 2021 GRVTY Media Pte. Ltd.
(UEN 201431998C.)

Singapore

Edition

Malaysia

Edition