Cutting emissions not just key for planet's health but can fuel economic growth: SM Teo

Debate on ministries' budgets: Prime Minister's Office

- Shabana Begum

Transitioning away from fossil fuels is crucial not only for the health of the planet, but also for economic growth and prosperity of the people, Senior Minister Teo Chee Hean told Parliament on Feb 28.

For these reasons, countries, including Singapore, must press on to take climate action even though it is natural for them to ask why they should continue to do so when others are not, he said.

SM Teo, who is also Coordinating Minister for National Security and chairman of the Inter-Ministerial Committee on Climate Change, was responding to a question from Dr Lim Wee Kiak (Sembawang GRC) on how political headwinds in the world will affect Singapore's climate goals.

There will also be questions on whether their efforts will result in any meaningful change without the participation of bigger players, noted SM Teo.

The US - the world's largest greenhouse gas emitter after China - is pulling out of the Paris Agreement for the second time. This prompted other countries, like Argentina and Indonesia, to question the wisdom of maintaining their climate commitments.

But SM Teo said: "Climate change is no longer a future threat; it is already here with us." Climate impacts are already being felt around the world, from widespread heatwaves to severe storms.

So, "the timeline to respond and adapt is being set not by us mere humans, but by nature".

"Countries and businesses which lag behind will be forced to act eventually. The longer they wait, the sharper and more disruptive a transition they will have to make," he said during the debate on the Prime Minister's Office's budget.

Pointing to economics being one of the drivers of climate mitigation, SM Teo said: "Green technology has advanced dramatically in the last two decades. Several of these technologies are now mature and mainstream, and make economic sense - they are not just cleaner but lower cost."