Highlights from Minister of State Alvin Tan's Speech at the British Chamber of Commerce Singapore’s Sustainability Dialogue

(Photo credit: British Chamber of Commerce Singapore)

At the British Chamber of Commerce Singapore's Sustainability Dialogue 2024, Minister of State for Trade and Industry, Alvin Tan, presented Singapore's comprehensive strategies to drive sustainability and foster green growth. Emphasising a holistic approach, Mr. Tan outlined key initiatives under Singapore’s Green Plan 2030, focusing on decarbonisation efforts and the transition to a low-carbon economy, with the ambitious goal of achieving net-zero emissions by 2050. He also underscored the vital role of public-private partnerships in advancing green innovation and establishing Singapore as a hub for green finance in Asia.

Mr. Tan stressed the critical importance of the private sector in achieving Singapore's sustainability targets. He highlighted several initiatives where the government collaborates closely with industries to promote green innovation, such as the Research, Innovation and Enterprise (RIE) 2025 Plan, which has allocated S$220 million towards sustainable urban solutions.

“Partnerships with businesses and chambers like the British Chamber of Commerce are key to scaling up sustainable practices and driving green financing,” Mr. Tan remarked.

He commended the Chamber’s Sustainability Committee for its efforts in promoting sustainability awareness among businesses in Singapore and encouraged deeper collaboration to advance these efforts further.

Aligning with the vision of a green economy, Mr. Tan also emphasised the growing opportunities in green finance, which is increasingly attracting global and regional investors looking for sustainable investment avenues. He mentioned initiatives like Project Greenprint, designed to leverage technology to mobilise capital towards sustainable projects and enhance the measurement and tracking of green and transition efforts.

“We are working towards positioning Singapore as a leading centre for green finance in Asia, ensuring we are well-placed to support the region’s sustainable growth ambitions,” Mr. Tan noted.

Concluding his speech, Mr. Tan reiterated Singapore's commitment to sustainable development and the need for a collective effort to bring about meaningful change.

"Achieving a sustainable future requires the participation and commitment of every stakeholder in society. We must work together to turn ambitions into tangible actions," he said.

To read the full speech by Minister of State Alvin Tan, click here.