Singapore-Australia Green Economy Agreement
The Singapore-Australia Green Economy Agreement (GEA) was signed by Trade Ministers on 18 October 2022. The GEA is a first-of-its-kind agreement that supports Australia's economic, trade, investment, and climate change objectives.
The GEA will build on our substantial bilateral relationship with Singapore and existing areas of cooperation, including the: Singapore-Australia Free Trade Agreement, Low Emissions Solutions Memorandum of Understanding and 2021 Australia-Singapore Partnership on Hydrogen for Maritime Use.
Through the GEA Australia and Singapore are laying the foundations necessary for cross-border economy activities that drive growth and reduce emissions. This includes facilitating flows of environmental goods and services, green and transition finance, and clean energy. Implementation of the GEA will involve the active participation of businesses, investors, organisations, and other stakeholders supporting our economic transition to net zero emissions.
Our initial work under the GEA spans seven key areas: (i) trade and investment; (ii) standards and conformance assessments; (iii) green and transition finance; (iv) carbon markets; (v) clean energy, decarbonisation, and technology; (vi) skills and capabilities; and (vii) engagements and partnerships.
Under the GEA Australia and Singapore will jointly implement 17 practical initiatives. Highlighted in the GEA Annexes these initiatives seek to deliver tangible outcomes to benefit businesses and consumers. Many of these initiatives have already commenced. The GEA will be updated regularly, and new and additional activities might be added over time.
The GEA will serve as a model for cooperation with other partners to support the regional transition to net zero emissions economies.
A GEA Snapshot, Fact Sheet and Summary of Key Outcomes are available. The GEA delivers in priority areas identified in submissions to the public consultations process that informed the GEA negotiations.
The joint vision for the GEA was announced on 11 October 2021 by Trade Ministers. There were 13 negotiating rounds over 12 months from 22 September 2021.
We want to hear from you
We welcome your feedback on further potential areas of cooperation with Singapore on green economy issues.
If you have any questions, please contact the DFAT Green Economy Branch at: AustSingGEA@dfat.gov.au
Resources
- Singapore-Australia Green Economy Agreement official text
- Singapore-Australia Green Economy Agreement Annexes
- Singapore-Australia Green Economy Agreement Snapshot
- Singapore-Australia Green Economy Agreement Facts Sheet
- Singapore-Australia Green Economy Agreement Summary of Key Outcomes
- Singapore-Australia Green Economy Agreement News
- Singapore-Australia Green Economy Agreement Public Submissions
- Singapore-Australia Green Economy Agreement: Joint Vision Statement: 21 October 2021
- Singapore-Australia Free Trade Agreement
- Low Emissions Solutions Memorandum of Understanding
- 2021 Australia-Singapore Partnership on Hydrogen for Maritime Use