Collaboration a key feature of Singapore’s climate agenda at COP27: Grace Fu

Collaboration a key feature of Singapore’s climate agenda at COP27: Grace Fu

“We also want to showcase collaboration, because for Singapore, being a very renewable energy-constrained country, we need collaboration whether it’s in importation of renewable energy or even in green hydrogen.”

She added that Singapore could leverage its position as a financial hub to bring many parties together to fund some of the programmes, as the world heads towards a clean energy future.

Monetary Authority of Singapore (MAS) managing director Ravi Menon had similarly said in his speech at the COP27 Singapore Pavilion, that the country could help unlock some of the financial capital needed to address climate change. 

This is amid a gulf between finance needed for the world to transit to net zero carbon emissions and what is now available for investment.

SINGAPORE’S IMPLEMENTATION

On Singapore’s own journey to achieve net zero emissions by 2050, Ms Fu said it will be “a very arduous journey” as many of the technological solutions are still being developed or are not commercially available. 

For now, it is key for Singaporeans to reduce energy wastage by reducing consumption, said Ms Fu, who also stressed the need for people to work together across sectors to change the way energy is produced and consumed.

She cited the example of the adoption of electric vehicles, with Singapore aiming to deploy 60,000 charging points across the island by 2030.

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