Singapore’s Minister of Trade and Industry Gan Kim Yong says the country is considering various options for carbon offsets, including increasing solar power and importing less carbon. Mr. Gan spoke at the opening of the Singapore Green Plan organized by the Ministry of Trade and Industry.
Mr. Gan also said that the country plans to use regional electrical systems. The Lao People’s Democratic Republic – Thailand – Malaysia – Singapore Power Project
Over the past five years, Singapore’s solar power has more than doubled. A.D. By 2030, the goal is to double the solar power supply to at least two gigabytes, creating about 350,000 homes a year.
“We are experimenting with Malaysia to import up to 100MW of electricity. This test will help us build our knowledge on small carbon products from the region,” he said.
Singapore is a small city-state – to deploy renewable energy resources, natural resources, land and climate. So we are very serious about sustainable development.
– Gan Kim Yong, Minister of Trade and Industry of Singapore
Singapore’s Green Plan 2030 was unveiled earlier this year for the country’s carbon reduction efforts. Cities in nature, sustainable livelihoods, renewable energy, green economy and the five pillars of the unbeatable future of the strategy. Trade and Industry Ministers Low Ying and Alvin Tan attended the Singapore Green Plan discussion and were expected to engage business and trade representatives.
The green economy will open new doors for Singapore, she said. “Singapore has the potential to become a carbon hub. As the world moves toward low carbon-carbon, companies need to be able to control their carbon footprint. We want to work with regional stakeholders to help them achieve their goal.
According to a joint press release from the two countries, Singapore will join Australia in developing a GEA. The partnership aims to accelerate the two countries’ green, sustainable future, create jobs and reduce carbon emissions. The agreement focuses on initiatives to encourage and facilitate trade and investment, which in turn focuses on reducing regulatory burdens on businesses. It aims to eliminate non-tariff barriers in the local goods and services business and to use low-emission green technology quickly.
In a joint statement issued after the summit, the two countries said that the “First Agreement” will strengthen bilateral economic and environmental ties. The main goal of the agreement is to develop policies, standards and initiatives to serve as a guide for multi-party and regional policy development, not only to create better jobs in the green sector, but also to build international capacity to cope with local governance and environmental challenges.
Singapore and Australia already have open, free trade and investment ties and are both prominent supporters of an open trade system based on open rules. Singapore is also collaborating with Australia on a 4,200 km submarine cable for green energy from Darwin, Australia.
In addition, the Singapore government is monitoring the results of two feasibility studies, one on low-carbon hydrogen and the other on carbon capture, use and storage (CCUS) technology. As a country with limited energy supply, these technologies play an important role in the country’s transition to low carbon emissions.
Finally, the CCUS Technology Government will help the Government meet the Climate Action obligations and goals as outlined in the revised 2030 national contribution and long-term low-emission development strategy as well as the Singapore Green Plan 2030.