Committee of Supply 2022 debate, Day 5: Teo Chee Hean on Singapore’s net-zero shift
Singapore’s more ambitious target to achieve net-zero carbon emissions by around the middle of this century is “a decisive move - one that is necessary, practical and implementable”, Senior Minister Teo Chee Hean told Parliament on Tuesday (Mar 8). He explained why Singapore assessed that it could make this move, saying positive global developments have given the country more options to enable it to reach net-zero earlier. These include COP26 finalising the rule book for international carbon markets, and major countries and companies making substantial investments in decarbonisation technologies, which will drive down costs and speed up technical viability and commercial scalability. Mr Teo also spoke about why Singapore should act. It wants to be an attractive place for green economic activities, reposition its economy and establish its competitive edge early in a low-carbon future.
Singapore’s more ambitious target to achieve net-zero carbon emissions by around the middle of this century is “a decisive move - one that is necessary, practical and implementable”, Senior Minister Teo Chee Hean told Parliament on Tuesday (Mar 8). He explained why Singapore assessed that it could make this move, saying positive global developments have given the country more options to enable it to reach net-zero earlier. These include COP26 finalising the rule book for international carbon markets, and major countries and companies making substantial investments in decarbonisation technologies, which will drive down costs and speed up technical viability and commercial scalability. Mr Teo also spoke about why Singapore should act. It wants to be an attractive place for green economic activities, reposition its economy and establish its competitive edge early in a low-carbon future.
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