Page 11 - AsiaElec Week 12 2022
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AsiaElec RENEWABLES AsiaElec
Singapore, Indonesia
sign climate change
partnership
SINGAPORE SINGAPORE and Indonesia have signed a cli- partnerships will enable Singapore to achieve
mate partnership focused on clean technology our net-zero goal by or around mid-century, as
research and creating an international carbon we create and seize new green growth and job
market. opportunities,” said Singapore’s Mr Teo.
The pact centres on four key areas: carbon Indonesia’s Luhut said his country would
pricing and markets; nature-based solutions and establish a blended finance alliance under the
ecosystem-based approach; clean technology G20 framework.
and solutions; and green and blended finance, The alliance will be a multilateral and inter-
the Straits Times reported. national institution to pool funds and projects
Singapore’s Senior Minister and Co-ordi- related to climate change and the United Nations’
nating Minister for Mational Security Teo Chee sustainable development goals.
Hean and Indonesia’s Co-ordinating Minister The deal forms part of Indonesia climate
for Maritime Affairs and Investment Luhut Bin- change actions as it is the leader of the G20 at
sar Pandjaitan signed a memorandum of under- present, and Luhut said his country had invited
standing (MoU) on March 21. Singapore to join its blended finance alliance.
The deal comes as Indonesia, the current Indonesia’s Deputy Minister for Environment
G20 chair, is bringing Singapore into a number and Forestry Management Nani Hendiarti said
of international initiatives. blended finance can be used to fund the coun-
A statement from Singapore’s National Cli- try’s mangrove rehabilitation and restoration
mate Change Secretariat and Indonesia’s Coor- projects, as well as its goals to partially retire its
dinating Ministry for Maritime and Investment coal-fired power plants, and replace them with
Affairs said that in future the two countries will renewable energy.
hold annual high-level ministerial meetings, and Jakarta has already announced plans to retire
an inter-agency working group involving senior some of its coal-fired power plants with a capac-
government officials from both countries will ity of 5.5 GW, and replace them with renewable
commit to advancing the agreement’s objectives. energy with a capacity of 3.7 GW by 2030.
“Singapore will continue to seek opportuni- Indonesia has set a target date of 2045 for
ties to collaborate with like-minded regional and reaching net zero, as the government tries to
international partners to create new solutions establish the state as a middle-income country
for a decarbonised and sustainable future. Such by the centenary of its independence.
Week 12 23•March•2022 www. NEWSBASE .com P11
