Distinguished Guests,

 

Ladies and Gentlemen,

 

 

1. Good afternoon. It is my pleasure to join you today at the launch of the Coastal Sustainability Alliance. Singapore is doing our part to contribute to a low-carbon future. Last year, we launched the Singapore Green Plan 2030, which advances our national agenda for sustainable development. As part of this, we have been investing in R&D to develop sustainable, low-carbon solutions, in partnership with key stakeholders. At the same time, we are working with global partners and broadening international collaboration so as to meet our climate targets.

 

2. We will shift decisively to make Singapore a place that promotes and attracts green economic activities in industry, services, and finance. This will establish our economy’s competitive edge early in a low-carbon future, and create new growth opportunities.

Building on this, the Minister for Finance also announced at this year’s Budget that we will raise our ambition to achieve net zero emissions by or around mid-century.

 

Developing Singapore as a sustainable maritime hub

 

3. One example of a new growth opportunity is in greening our maritime sector. Singapore is making significant efforts to build a sustainable maritime hub. Last week, the Maritime and Port Authority of Singapore (MPA) launched the Maritime Singapore Decarbonisation Blueprint 2050, which sets out our plans to reduce emissions from our port terminals and harbour craft, as well as support global efforts to decarbonise international shipping. Indeed, the Coastal Sustainability Alliance’s plan to electrify harbour craft will contribute to the efforts under this blueprint, and our target for all harbour craft to operate on low-carbon energy solutions by 2030.

 

4. Our transition is critical, not only to ensure that we are aligned with global efforts on sustainable development, but also to leverage new opportunities in the emerging green economy. I am glad to see that the Coastal Sustainability Alliance brings together industry stakeholders from the maritime sector, as well as MPA, Workforce Singapore (WSG), and A*STAR to build Singapore’s next-generation maritime ecosystem and develop new pathways for innovation and technology to drive a more sustainable and resilient industry.

 

5. Another key focus area of the Maritime Singapore Decarbonisation Blueprint 2050 is research, innovation, and enterprise, to catalyse R&D and innovation for maritime decarbonisation. Developing a sustainable industry will require a collective effort and partnership between the public, research institutions, and private players to create new capabilities, technologies, and innovations across the entire value chain. I am excited to hear that the Coastal Sustainability Alliance will further this vision by developing new electric harbour craft and tapping on a resilient and green supply chain to support this endeavour.

 

6. As we embark on our transition towards a low-carbon future, we will need to ensure that we continue to support talent development and up-skilling to unlock new career pathways and capture emerging opportunities in new solutions like electric and hybrid maritime vessels and its surrounding ecosystem. We are also committed to work closely with our industry partners and institutes of higher learning to better understand these emerging decarbonisation-related jobs and skills needs and ensure the adequacy of pre-employment and mid-career training opportunities.

 

7. Singapore is at an exciting point in our sustainability journey. We must advance on this journey to achieve our ambitious climate targets collectively as a nation, and we will require the support and participation of all stakeholders across the Government, businesses, academia, and households to do so. I look forward to seeing the results of this collaboration.

 

8. Thank you.