Review of Singapore's Commitment Towards Net-zero Carbon Target

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 (NDC) and our Long-Term Low-Emissions Development Strategy (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 long 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 strengthening international partnerships to expand our options to reduce emissions.

Thank you, Speaker. I thank the Minister for her clarifications. I have one supplementary question. To halve the absolute carbon emissions to 33 million tonnes carbon dioxide by 2050, given that industries account for the lion's share of the carbon emissions, are there strategic plans for the next three decades to: one, switch to cleaner power production plants for our national power grid, such as hydrogen or even biofuels, to replace LNG; and two, shift away from energy-intensive industries, such as petroleum refining, petrochemicals, semiconductors or even data centres?

Mr Speaker, I would like to thank the Member for the supplementary question. The short answer to her supplementary question is that we will consider all options. Given that this is a very long-term initiative, we need to consider all options that are good for us, in order for us to have the resource, economic and climate resilience going into the future; including meeting our goals on carbon.