Oral Reply by Ms Grace Fu, Minister for Sustainability and the Environment, to Parliamentary Question on Net Zero Target and Emissions Reduction Strategies
Ms Poh Li San: To ask the Minister for Sustainability and the Environment (a) whether there are plans to review Singapore’s commitment towards a net-zero carbon target and by when; and (b) beyond the targets set out in the Singapore Green Plan 2030, what are the key strategies to halve emissions by 2050, given that industries contribute to approximately 60% of Singapore’s total carbon emissions.
Climate change is an existential challenge for Singapore, and we take it very seriously. We have continually reviewed and enhanced our climate targets and preparations. Last year, we submitted our enhanced 2030 Nationally Determined Contribution, or NDC, and our Long-Term Low-Emissions Development Strategy, or LEDS. This year, we launched the Singapore Green Plan 2030, which sets out a roadmap towards sustainable development and net-zero emissions.
Our goal is to peak emissions around 2030, and halve our emissions by 2050. We have put in place a broad-based carbon tax so that companies internalise the cost of carbon, and we will be reviewing the tax trajectory and level, post-2023, to reflect the increased urgency for climate action. We aim for our energy and chemicals sector to be amongst the best-in-class in energy and carbon efficiency globally. we have introduced an enhanced set of Industry Energy Efficiency schemes to give a stronger push for industrial facilities, including those of small and medium-sized enterprises, to be more energy efficient.
In the longer term, to achieve our mitigation aspirations, we will pursue three key strategies. First, we will transform our industry, economy and society to adopt more renewable energy, be more energy efficient and reduce energy consumption. Second, we will invest in, and draw on low-carbon technologies, such as carbon capture, utilisation and storage, and low-carbon hydrogen. Third, we will foster international collaboration in areas such as well-functioning carbon markets and regional electricity grids.
We will continue to raise our ambitions over time, despite our constraints as a small city-state with limited alternative energy resources. How soon we can achieve net-zero emissions will depend on factors such as global advancement in low-carbon technologies.. We are also strengthening international partnerships to expand our options to reduce emissions.