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The Australian and Singaporean governments have signed a green trade agreement to support trade, investment and climate change objectives, which will see the countries work together on low-emissions finance, carbon markets and decarbonisation initiatives.
Australia and Singapore in the 18 October deal will jointly implement 17 initiatives such as green shipping, sustainable aviation, government purchases of goods and services from low-emissions sources, sustainable food systems and ecolabelling and sustainable schemes, the Australian government said.
"This is a model that will support both Australia and Singapore, and partners in our region, to seize the economic opportunities of the global transition to net zero," said Australian prime minister Anthony Albanese.
Australia and Singapore are committed to ambitious action on climate change to keep the Paris climate agreement 1.5°C compared with pre-industrial levels, the Australian government said.
The first free trade agreement between Australia and Singapore was signed in July 2003. Australia ships LNG to Singapore, while there are plans to supply the city-state with renewable energy via a 4,200km high-voltage power transmission cable, known as the Australia-Asia Power Link project. Argusmedia
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