MPs call for initiatives to prepare Singapore for green economy

There are opportunities to be reaped in the world's quest to rely less on fossil fuels, and Singapore should start preparing itself to capture them, a group of MPs have urged.

In their second motion on climate change, to be heard during the parliamentary sitting next week, MPs in the Government Parliamentary Committee (GPC) for Sustainability and the Environment are urging the Government to enhance green financing, create more green jobs and strengthen corporate accountability.

Globally, there is the concern that the burden of the green transition could fall unfairly on some workers, who face unemployment as gas, oil and coal are phased out in favour of renewables. In Singapore, oil giants ExxonMobil and Shell have, over the past two years, announced that they are shrinking their workforce, axing about 800 jobs.

The MPs behind the motion told the media during a press briefing on Thursday that they hope to push for initiatives such as building a new academy to train workers and focus on sustainability-related research and development.

"The Green Space Academy would be a dedicated facility to help aspiring (workers) transit to the green economy and quickly pick up the skills and knowledge needed to work in such sectors," said the deputy chairman of the GPC for Sustainability and the Environment, Ms Poh Li San (Sembawang GRC).

Ms Poh had filed the private member's motion, which is supported by MPs under the GPC for Sustainability and the Environment, as well as the GPC for Finance and Trade and Industry.

At least 15 MPs are expected to speak on the motion next week, including Nominated Member of Parliament Koh Lian Pin who will focus on carbon offsets.

The latest motion follows the first one that was debated last February, which saw the House agreeing that the Government should accelerate efforts to mitigate the impacts of climate change.

In 2020, the Ministry of Sustainability and the Environment estimated the sustainability sector is expected to add 55,000 new and upgraded jobs in the next decade.

But citing a recent survey by HSBC, Ms Nadia Samdin (Ang Mo Kio GRC) said the lack of qualified staff could reduce the amount of funds that investors concerned over environmental, social and governance issues pour into Asia.

"What we really want to ensure here is that Singaporeans of all backgrounds can be front and centre to participate and take advantage of these opportunities (in the green sector)," she added.

The GPC is also concerned about how local businesses of all sizes can thrive as sustainability concerns become more integrated into the global market.

Mr Don Wee (Chua Chu Kang GRC) said some companies have told him they wish to adopt more sustainable practices, but many of them do not know how to go about it, and are concerned with costs.

The MPs speaking on the motion will also draw on a paper by the youth wing of the People's Action Party that had focused on developing a green economic ecosystem, which proposed changes to Singapore's carbon tax policy, among other areas.

Singapore's carbon tax, which is currently at $5 per tonne of emissions until 2023, has been pegged as being too low by climate change observers. The revised rate for 2024 and beyond will be announced during the Budget next month.

The MPs said they will suggest a tiered carbon tax rate so larger emitters pay more than middle-tier emitters, to incentivise firms to reduce their carbon footprint.

Mr Wee said: "As sustainability standards become essential in the global marketplace, we need to help our businesses get ahead of the curve. When the firms have more opportunities, I'm sure Singaporeans will also have better jobs and higher income."