Singapore's Minister: Combating Climate Change Requires Urgent Action

TEMPO.CO, Jakarta - Singapore's Coordinating Minister for National Security, Teo Chee Hean, assessed that combating climate change requires collective and consistent action from all stakeholders. “Through floods and heat waves, all of us are seeing how climate change can profoundly disrupt lives and livelihoods,” Teo said at the Indonesia International Sustainability Forum (ISF), held in Jakarta on September 5, 2024.

He warned that the world is currently on track for global warming of 2.1 to 2.8 degrees Celsius by 2100. Given Asia's significant population and its role as a driving force in global economic growth, the region must take the lead in combating climate change.

“Today’s ISF gathers many stakeholders who are committed to advancing ASEAN’s net-zero ambitions. There is much that we can do and do together,” he said.

Teo then proposed three key sustainability pathways to achieve a net-zero ASEAN:

1. Building green energy infrastructure

ASEAN is blessed with abundant renewable energy resources, including solar, wind, hydropower, and geothermal power. “We can work together to realize this potential through our vision of an ASEAN Power Grid. Regional grids can better match supply with demand – countries that can produce more renewable energy than they need can export the excess,” he explained.

2. Scaling up new green technologies

Carbon capture and storage (CCS) is a crucial technology for achieving net-zero emissions. “We will need to devote resources to develop this technology, bring the costs of implementation down, and make it a viable part of ASEAN’s decarbonization path,” the Singaporean Defense Minister said.

3. Financing for decarbonization projects

Teo assessed that the substantial investments required for transitioning to renewable energy cannot be met solely by the public or private sectors. Innovative financing initiatives can help mitigate risks, improve project viability, and attract more private capital.

ANTARA

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