With less pollution and moisture in the atmosphere, we have been experiencing clearer skyline and beautiful sunset in Singapore lately. It is not just Singapore experiencing this lately, big cities namely New Delhi, Bangkok and Seoul have also reported its clearest skies ever.
Meanwhile, in Wuhan – the capital city of China’s Hubei province, ground zero where this whole pandemic started – have also reported that their air quality has improved with just 10 weeks of look down in position.
We learned, seen, and experienced a wholesome of things during this pandemic season. It’s proven that we don’t really have to travel for meetings or work, many things can be done online at home nowadays, many costs can be saved, and with all of our harmful activities slowed down, the mother earth is able to take a deep breath and heal itself.
In time, activities will soon resume, and everything will go back to normal. You might be worrying that you’ll miss the best clean air that you have tasted since a few decades and the beautiful skyline. In a couple of decades, again, we might be able to experience this permanently as data from Google Trends show the trend is leaning towards greener buildings, not just that but also sustainability has increasingly become a customer mandate.
The impact of climate change on buildings has also become more evident. Erratic weather, for instance, can quickly degrade building structures, corrode facades and impose more stress on operational systems.
To help with this trend, the Singapore government passed a bill in taxing carbon emissions, 2018 and was also first in Southeast Asia to do this. As regulations start to catch up, the costs of owning a building that does not meet minimum environmental standards could rise in the near term.
The capital market has also helped to drive sustainable buildings. The emergence of sustainability-linked loans (SLL) allows borrowers to cut their borrowing rates in return for meeting certain sustainability performance targets. It is expected the growth of SLLs to lead to an increase in the financial incentives for firms to improve their sustainability performance. Proceeds from green bonds and loans are also expected to be channelled into projects that provide clear environmental benefits.
Charlene Chin, EdgeProp Singapore,
May 8, 2020
Covid-19 has been kind to the environment