UNGA High Level Thematic Debate on "Delivering Climate Action- For People, Planet & Prosperity" - Ms Grace Fu

26 OCT 2021

Statement by Ms Grace Fu, Minister for Sustainability and the Environment, at the UNGA High Level Thematic Debate on “Delivering Climate Action: For People, Planet & Prosperity” on 26 October 2021

President Abdulla Shahid

Excellencies,

1 Our climate is changing and its impact on our planet is undeniable. We need urgent action.

  1. The Intergovernmental Panel on Climate Change has warned that without a rapid and drastic reduction in emissions, global temperatures will exceed 2.0°C in this century.
  2. The consequences will be dire, especially for the most vulnerable among us, the Small Island Developing States.
  3. The future of our planet and the success of the 2030 Sustainable Development Agenda are at stake.

2 All countries, notably major emitters, must lead the way in closing the emissions gap.

  1. Singapore welcomes the new and enhanced pledges by many Parties and calls on all others to submit their enhanced NDCs and long-term strategies by COP-26.
  2. These pledges must be backed by concrete implementation plans to give us a realistic chance to fulfil the long-term temperature goal of the Paris Agreement.

3 COP-26 must succeed at scaling collective ambition while ensuring a fair and balanced outcome for all.

  1. Finalising the Paris Agreement guidelines will provide a common, rules-based framework to account for Parties' NDC achievements.
  2. Critically, Parties must complete negotiations on Article 6. This will strengthen confidence in carbon markets, spur innovation and reduce technology costs in greening our industries and businesses.
  3. As co-facilitator of Ministerial negotiations on Article 6, I look forward to working constructively with all Parties to advance our work in this key area.

4 At home, we are charting a climate-resilient future through the Singapore Green Plan 2030. It complements our NDC and LEDS to set out bold, concrete sectoral targets toward achieving sustainable development and our net-zero aspiration.

  1. By 2025, we will quadruple solar energy deployment.
  2. By 2040, we aim to phase out internal combustion engine vehicles.
  3. Due to our lack of land area and climatic conditions for large-scale deployment of renewables, Singapore is forging partnerships on low-carbon solutions.
  4. We aim to facilitate the development of renewable energy sources in Southeast Asia through developing regional power grids,
  5. And are harnessing finance to green Asia's energy transition.
  1. Our Green Finance Action Plan supports the development and mainstreaming of sustainable financing solutions and catalyses the growth of sustainable finance capabilities, including the US$1.8 billion allocation under the Green Investments Programme.
  2. We are building sustainable capital markets in ASEAN, through capacity-building, improving transparency and disclosures, and developing standards and a common taxonomy framework.

5 Mr President, the window for action is narrowing fast. We must work together to halt irreversible damage and build a more sustainable, resilient, low-carbon future for our future generations.

6 Singapore stands steadfast in our commitment to work with all Parties for our people, planet, and shared future.

7 Thank you.