The Fund Supports Energy Efficiency Upgrades, but Not Directly Offsetting Operating Expenses
As of April 2024, S$25.7 million of the S$60 million Agri-food Cluster Transformation (ACT) Fund has been allocated to 42 companies across 68 projects. The fund is aimed at driving the transformation of Singapore’s agri-food sector to increase productivity, resilience, and resource efficiency.
Senior Minister of State for Sustainability and the Environment, Koh Poh Koon, emphasized that businesses still have access to the remaining funds for energy-efficiency upgrades and technology adoption. The fund is designed to support long-term sustainability rather than directly offset high operating costs, such as rising electricity prices.
While the fund does not directly cover these expenses, it provides financial support for energy audits and investments in energy-efficient technologies like solar panels, which can reduce long-term operating costs. The goal is to ensure that farms are more sustainable and can withstand future challenges.
In response to questions from Members of Parliament, Dr. Koh also discussed the possibility of extending a local produce aggregator, spearheaded by the Singapore Agro-Food Enterprises Federation (Safef), to supply local hawkers. However, he acknowledged that hawkers have existing supplier relationships, making it difficult to make such changes swiftly. He encouraged hawker groups to reach out to Safef to explore long-term collaboration opportunities.
