Mr. Teo emphasized that switching to clean energy is becoming more affordable, with the regular levelized cost of solar energy now 50 % lower than that of fossil energy worldwide.  ,
He said,” This explains why two-thirds of the global energy expenditure went to wash energy infrastructure and technology in 2024.”
One of Singapore’s four key” valves” is renewable energy, which is the country’s most affordable source of renewable energy by 2050. Natural gas, local electricity grids, and low-carbon choices are the other three.  ,
According to the Energy Market Authority, renewable energy may finally enable Singapore to meet about 10 % of its 2050 projected energy demand.  ,
Mr. Teo even touched on Singapore’s efforts to adopt nuclear power.  ,
In his speech in the Budget 2025, Lawrence Wong stated that the nation was considering the possible use of advanced nuclear power systems.  ,
Singapore’s plan to build a pool of about 100 nuclear power and safety experts was previously stated.
It currently has over 40 experts in this field, according to Mr. Teo. His top priority for the upcoming years will be to collaborate with its partners to assess the potential for the safe use of advanced nuclear power technology in Singapore.
LOW-CARBON Solutions ADAPTING
According to Mr. Teo, it is necessary to adopt novel and creative solutions to help Singapore achieve its long-term climate targets.  ,
As it waits for these energy to be commercially viable at size, Mr. Teo noted that the nation has also started using renewables, such as sustainable aviation fuel, and is also developing skills to build hydrogen and acid, including through small, pilot-scale jobs.
He added that the S$ 5 billion addition to the Future Energy Fund, which was announced during this year’s resources talk, will support and invest crucial infrastructure assets.  ,
Singapore is also look for opportunities in the offshore wind industry as the need for low-carbon goods and services rises, according to Mr. Teo.  ,
By 2030, the world offshore wind market is projected to grow to US$ 126 billion annually.  ,
” Singapore businesses in the oil and gas sector are now having success in turning to provide crucial goods and services throughout the offshore wind worth ring,” according to the report.
Move:” Noisy AND UNEVEN”
According to Mr. Teo, Singapore also signed an Application Partnership on Carbon Credits with Bhutan in accordance with Article 6 of the Paris Agreement.  ,
Singapore’s first deal with a carbon-neutral nation is this. Similar partnerships with Papua New Guinea and Ghana, as well as Memorandums of Understanding with more than 15 different nations, had formerly been signed.  ,
These “win-win” partnerships will encourage the creation of carbon prevention initiatives in these nations while supporting our efforts to meet our emissions goals, he said.  ,
Mr. Teo claimed that keeping global warming below 1.5 degrees Fahrenheit even required additional nations to complete their part, despite Singapore’s numerous goals in place to help it reach its net-zero goal.  ,
The move is likely messy and uneven, and it won’t be simple. The reality is that the international community will make progress, but it may not all of us reach the 1.5 level goal, he warned.
Singapore needs to prepare for rising sea levels as a low-lying island nation, he said, adding that$ 5 billion will be put aside to supplement the coastal and flood protection fund in the coming decades.  ,
We are weather nihilists, not zealots or climate scientists. What other nations will or won’t complete could we be certain of. However, by doing our part, we did secure Singapore’s coming by ensuring its potential.