SINGAPORE: Singapore is hoping to get more countries back on track on the reduction of greenhouse gas emissions at this year's United Nations Climate Change Conference.
Sustainability and the Environment Minister Grace Fu is leading the Singapore delegation at the two-week COP28 summit, which takes place in Dubai from Thursday (Nov 30).
Attendees worldwide, including Singapore, will be submitting their first report cards on efforts to slow rising global temperatures, and ensure that the planet is on track to meet Paris Agreement goals.
Adopted in 2015, the treaty aims to prevent global temperatures from rising beyond 1.5 degrees Celsius.
Ms Fu said that this latest round of climate talks is a good time to assess the progress so far, address gaps, and put in place plans to stay on course, especially for nations that may have drifted away from their pledges.
“Many companies have made net-zero 2050 commitments,” said Ms Fu, citing sectors including finance, aviation and maritime that have made a significant push for green initiatives.
“All these movements since 2015 really allow us at this point in time to take a stocktake to say: ‘Collectively, what have we done? How do all these add up? Going forward, what do we need to do?’”
“This is very important, given that we have seen in some countries there seems to be some backtracking, some reversal (or delay) of policies. It's not a good sign.”
The minister said that while there have been many problems and distractions globally that might have put environmental issues on the back burner, the annual forum serves as an opportunity to bring stakeholders together and bring the conversation back to climate change.
“Climate doesn't wait for us. For this COP, it's important for us to put global focus (back) on climate,” she said.
This will be the first time Singapore is bringing a youth delegation to the annual conference.
Twenty individuals between 18 to 35 years old, who have a keen interest in climate action and sustainability issues, were selected to travel to Dubai with Ms Fu.
The minister pointed out that by 2050 – the deadline crucial to meet the 1.5-degree limit – these youths will be the generation leading the country.
“They will be in their late 40s and 50s – prime of their lives. They will probably be business leaders, industry leaders, or even policymakers. And if they're going to be in the stewardship position, they should really get involved right now and to help steer this mothership of ours,” she said.
“We want to make sure that when they are making certain decisions, the trade-offs they are proposing, that they have a full picture of the constraints, of the needs of the people, industry and government.”
The summit also allows the youths to meet like-minded peers from across the globe and share opinions and aspirations.
“Climate is a global problem. For us to have a global solution, we need to be inclusive,” said Ms Fu. “Our youths need to take into consideration the views of other youth activists from other countries.”
Several homegrown businesses are also at the conference, where they are looking to market their products and form new partnerships with overseas players.
AirCarbon Exchange (ACX), a local firm which provides a digital platform for clients to buy, trade and use carbon credits in verified carbon offset projects such as reforestation or clean energy investments, will be participating at various COP28 events.
“The broader vision is for us to create a network of carbon markets. What we'd like to do is to knit the world together so that they can more efficiently and effectively trade carbon credits, which are a form of climate finance,” said the company’s global head of carbon and environmental products Hum Wei Mei.
Similarly, impact investor Silverstrand Capital hopes to get more stakeholders involved in biodiversity projects, in areas such as wildlife conservation and sustainable aquaculture.
It is holding a competition to secure funding for winners and also link participants up with partners.
“The nature investing space is very nascent and very dynamic. Entrepreneurs need more than just capital to survive and to thrive. They could also do with some guidance and support,” said the firm’s founder and principal Kelvin Chiu.
Both firms plan to tap collaborative spaces, including the Singapore Pavilion, to network, conduct talks and demonstrate their sustainability strategies.
This is the second year that Singapore will host a pavilion at the conference. It aims to bring businesses together to showcase different solutions that support climate action, and promotes collaboration.
Businesses said that by scaling local solutions on an international level, this can then help other economies decarbonise and adapt to the impacts of climate change.
Ms Fu said that last year, the pavilion proved to be a useful place for participants to gather, exchange notes, and form discussions.
“Sometimes what you're doing in your industry has an impact on mine, and I can borrow some of your technologies and apply them in mine as well,” she said.
“This is going to be a big COP – many people are attending, including top-level CEOs. It's important for them to see what others are doing so that these deals get the mindshare of decision makers and policymakers. We hope that this will be a great opportunity for us to showcase and also to scale.”
The pavilion is a partnership with around 100 entities, including businesses, academia, international organisations, and non-governmental organisations.
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Sustainability and the Environment Minister Grace Fu is leading the Singapore delegation at the two-week COP28 summit, which takes place in Dubai from Thursday (Nov 30).
Attendees worldwide, including Singapore, will be submitting their first report cards on efforts to slow rising global temperatures, and ensure that the planet is on track to meet Paris Agreement goals.
Adopted in 2015, the treaty aims to prevent global temperatures from rising beyond 1.5 degrees Celsius.
Related:
Ms Fu said that this latest round of climate talks is a good time to assess the progress so far, address gaps, and put in place plans to stay on course, especially for nations that may have drifted away from their pledges.
“Many companies have made net-zero 2050 commitments,” said Ms Fu, citing sectors including finance, aviation and maritime that have made a significant push for green initiatives.
“All these movements since 2015 really allow us at this point in time to take a stocktake to say: ‘Collectively, what have we done? How do all these add up? Going forward, what do we need to do?’”
“This is very important, given that we have seen in some countries there seems to be some backtracking, some reversal (or delay) of policies. It's not a good sign.”
The minister said that while there have been many problems and distractions globally that might have put environmental issues on the back burner, the annual forum serves as an opportunity to bring stakeholders together and bring the conversation back to climate change.
“Climate doesn't wait for us. For this COP, it's important for us to put global focus (back) on climate,” she said.
YOUTH DELEGATION AT COP28
This will be the first time Singapore is bringing a youth delegation to the annual conference.
Twenty individuals between 18 to 35 years old, who have a keen interest in climate action and sustainability issues, were selected to travel to Dubai with Ms Fu.
Related:
The minister pointed out that by 2050 – the deadline crucial to meet the 1.5-degree limit – these youths will be the generation leading the country.
“They will be in their late 40s and 50s – prime of their lives. They will probably be business leaders, industry leaders, or even policymakers. And if they're going to be in the stewardship position, they should really get involved right now and to help steer this mothership of ours,” she said.
“We want to make sure that when they are making certain decisions, the trade-offs they are proposing, that they have a full picture of the constraints, of the needs of the people, industry and government.”
The summit also allows the youths to meet like-minded peers from across the globe and share opinions and aspirations.
“Climate is a global problem. For us to have a global solution, we need to be inclusive,” said Ms Fu. “Our youths need to take into consideration the views of other youth activists from other countries.”
LOCAL BUSINESSES AT COP28
Several homegrown businesses are also at the conference, where they are looking to market their products and form new partnerships with overseas players.
AirCarbon Exchange (ACX), a local firm which provides a digital platform for clients to buy, trade and use carbon credits in verified carbon offset projects such as reforestation or clean energy investments, will be participating at various COP28 events.
“The broader vision is for us to create a network of carbon markets. What we'd like to do is to knit the world together so that they can more efficiently and effectively trade carbon credits, which are a form of climate finance,” said the company’s global head of carbon and environmental products Hum Wei Mei.
Similarly, impact investor Silverstrand Capital hopes to get more stakeholders involved in biodiversity projects, in areas such as wildlife conservation and sustainable aquaculture.
It is holding a competition to secure funding for winners and also link participants up with partners.
“The nature investing space is very nascent and very dynamic. Entrepreneurs need more than just capital to survive and to thrive. They could also do with some guidance and support,” said the firm’s founder and principal Kelvin Chiu.
Both firms plan to tap collaborative spaces, including the Singapore Pavilion, to network, conduct talks and demonstrate their sustainability strategies.
SINGAPORE PAVILION AT COP28
This is the second year that Singapore will host a pavilion at the conference. It aims to bring businesses together to showcase different solutions that support climate action, and promotes collaboration.
Related:
Businesses said that by scaling local solutions on an international level, this can then help other economies decarbonise and adapt to the impacts of climate change.
Ms Fu said that last year, the pavilion proved to be a useful place for participants to gather, exchange notes, and form discussions.
“Sometimes what you're doing in your industry has an impact on mine, and I can borrow some of your technologies and apply them in mine as well,” she said.
“This is going to be a big COP – many people are attending, including top-level CEOs. It's important for them to see what others are doing so that these deals get the mindshare of decision makers and policymakers. We hope that this will be a great opportunity for us to showcase and also to scale.”
The pavilion is a partnership with around 100 entities, including businesses, academia, international organisations, and non-governmental organisations.
Related:
Continue reading...