2024 wrapped

Closures of local farms. The hottest year on record. A dramatic UN climate conference. These were some of the most significant developments in the environment sector in 2024.

- Chin Hui Shan and Shabana Begum

Here are five of the top stories of the year, and what can be expected in 2025:

1 A CLIMATE FINANCE DEAL AT COP29

The UN Climate Change Conference COP29 in November ended with developed nations agreeing to channel US$300 billion (S$406 billion) in yearly climate finance to developing countries by 2035.

This new target amount for climate finance, an increase from the previous US$100 billion, aims to further help poorer and climate-vulnerable countries limit climate impacts and afford solutions to reduce their carbon emissions.

However, the target was met with criticism by many developing countries, which were expecting richer countries to commit more.

At COP29, countries also agreed on a broader aim of raising US$1.3 trillion annually by 2035 for countries in need through various forms of finance, including from the private sector and multilateral development banks.

2 SETBACKS IN LOCAL FARMING SECTOR

Singapore's farming sector was plagued with delays and closures in 2024.

About a quarter of Singapore's sea-based fish farms have exited the market over the past year, while at least two vegetable farms scrapped their plans to produce here.

These developments raise concerns about whether the Republic can keep up with its 30 by 30 goal - to produce 30 per cent of its nutritional needs locally by 2030.

With worsening climate impacts and geopolitical circumstances that can threaten food supply, local farms are important for Singapore - which imports more than 90 per cent of its food - to safeguard its food security.

But it is not all gloomy.

Amid growing cost pressures and the lack of robust local demand, some farms, such as Tomato Town, are working closely with international players to help bring the latter's farming expertise and know-how to Singapore.