Widening S'pore's climate finance aid to be discussed: Minister

Climate finance refers to funds that go towards efforts to cut greenhouse gas emissions or to help nations adapt to climate impacts and green their economies.

- Cheryl Tan

The possibility of Singapore contributing to a donor base for climate finance is still to be negotiated, though the Republic has played a role in helping countries to decarbonise through building capacity and facilitating carbon markets, said Minister for Sustainability and the Environment Grace Fu on Sunday.

This can come from public or private institutions. At the COP27 climate conference, developed countries have been calling for an increasing donor base for climate finance, specifically looking at high-income countries that are still classified as developing countries, such as Singapore, South Korea and Qatar.

A report by the Overseas Development Institute released in 2022 identified countries that have high per capita income and high cumulative emissions, which make them increasingly qualified to pay for climate finance. This puts countries including Singapore and Qatar on the radar.