Singapore is more prone to sea-level rise than ‘virtually any country’ on Earth. So what’s being done about it?
- Roughly one-third of Singapore is less than five metres above sea level, making some US$50 billion worth of prime real estate vulnerable to flooding
- Its leaders have described the threat as ‘existential’ – and are pouring billions into shoring up the city state’s defences against the rising tides
“We are not planning to lose any inch of land permanently,” said Ho Chai Teck, a deputy director at PUB, the government agency coordinating the effort to save the nation’s shores. “Singapore will build a continuous line of defence along our entire coast. This is something that we take very seriously.”
Roughly one-third of Singapore is less than five metres (16 feet) above sea level, low enough for flooding to cause punishing financial losses. Some of its most prized property sits on vulnerable land: the skyscrapers overlooking the Marina Bay waterfront, known for its luxury mall and casino, and the towers that house giant banks such as Singapore-based DBS Group Holdings Ltd., Southeast Asia’s largest, and UK-based Standard Chartered Plc.
Assuming 1.5 degrees Celsius of warming, prime real estate in the city worth S$70 billion (US$50 billion) faces a high risk of flooding, according to Bloomberg estimates using data from real estate company CBRE Group Inc. Another endangered, and vital, part of the country is Jurong Island, where Shell Plc and ExxonMobil Corp. have oil and petrochemical operations.
“You’ve got small island nations, but they don’t have this much economic wealth,” says Benjamin Horton, a professor at Nanyang Technological University in Singapore who studies sea-level change. “The actual value of every square metre in Singapore is off the charts. This is a country more susceptible to sea-level rise than virtually any country in the world.”