Prime Minister Lee Hsien Loong’s remarks were made at the Leaders’ Summit on Climate.
Singapore’s strategy to combat climate change goes beyond meeting emissions caps or implementing carbon tax, Prime Minister Lee Hsien Loong said on Friday in his recorded remarks for the Leaders’ Summit on Climate.
In his remarks, PM Lee once again reaffirmed Singapore’s commitment to tackle climate change, even though Singapore is a “small island state”.
“We will contribute our share to the climate agenda,” PM Lee said.
“Singapore was among the first 20 countries to submit our long-term strategy to the UNFCCC (United Nations Framework Convention on Climate Change). This year we launched the Singapore Green Plan 2030, our roadmap towards sustainable development and net zero emissions.”
As Singapore is small in size and lacks resources, the country must innovate and use technology extensively to achieve its emission reduction goals.
While the nation has “very limited” renewable energy options, Singapore plans to quadruple solar energy production by 2025 and open one of the world’s largest floating solar energy systems that will offset 33,000 tonnes of carbon dioxide annually.
PM Lee also brought out another “major concern” for Singapore, which is a compact and dense city: Rising urban temperatures.
To address the issue, the country is using computer modelling for more climate-responsive urban design, experimenting with cooling paint on buildings and planting one million more trees.
PM Lee also added that Singapore can help the global push for sustainability through green finance, financial technology and capability building given its status as a financial hub.
Singapore has also launched a US$2 billion Green Investments Programme.
“This will support the development of carbon trading and services, sustainability consultancies and environmental risk management,” PM Lee said.
“One promising area is emissions verification, including using new technology to measure the carbon footprints and monitor abatement commitments of businesses.”
PM Lee said that Singapore will be happy to share its experience in those areas. He noted that we have incorporated climate and sustainability in the Singapore-US Third Country Training Programme.
As country coordinator for ASEAN-US energy cooperation, Singapore will work closely with the US to “support our region’s clean energy transition”, PM Lee said.
“We look forward to working with the US and all countries to build a sustainable future.”
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