5th Ministerial on Climate Action - Ms Grace Fu

Statement by Ms Grace Fu, Minister for Sustainability and the Environment, at the 5th Ministerial on Climate Action on 23 March 2021

Excellencies,

1 Thank you for the opportunity to speak and let me share Singapore’s position.

2 First, ahead of COP-26, we call on all Parties to submit ambitious NDCs and long-term strategies, and share concrete implementation plans to achieve them. The world needs a strong signal of our collective commitment to close the emissions gap and achieve the Paris goals. Singapore is taking bold steps to achieve our enhanced NDC and Long-Term Low-Emissions Development Strategy, which were submitted in March 2020. We also launched a Whole-of-Nation Singapore Green Plan, which was approved at the Parliament, and charts ambitious and concrete sectoral targets to achieve our net-zero emissions aspiration as soon as viable. This includes quadrupling solar energy deployment by 2025, phasing out internal combustion engine vehicles by 2040, and piloting cleaner electricity imports.

3 Second, climate action must be inclusive and support for developing countries is important, particularly in a post-COVID future. Developed countries should fulfil their climate finance commitments with a substantive support package for developing countries at COP-26. Singapore is committed to assist in capacity-building through the Singapore Cooperation Programme and Climate Action Package to help fellow developing countries. Singapore also seeks to facilitate Asia’s transition to a sustainable future through green finance. We launched a Green Finance Action Plan in 2019, which includes a two billion US dollar Green Investments Programme to finance green financing solutions and markets. We are building sustainable capital markets in ASEAN through capacity-building, improving transparency and disclosures, and developing standards.

4 Third, COP-26 needs to fully operationalise the Paris Agreement. This includes completing negotiations on Article 6 and the Enhanced Transparency Framework. We must spare no effort to narrow differences. To advance discussions during this difficult time, we should employ innovative methods like virtual discussions, informal ministerial sessions, and active consultations by the COP Presidencies and facilitators; and help countries to operate digitally.

5 Singapore looks forward to Chile and UK’s leadership and stands ready to work with the COP Presidencies and other Parties to secure a successful COP-26.