Singapore-Australia Green Economy Agreement Progress on Implementation
Progress has been made on implementing the 17 initiatives listed as annexes in the GEA. Implementation highlights include:
- Environmental goods and services (Annexes B1.1 and Annexes B1.2): agreement to commence industry consultations, in the second half of this year, to inform the periodic review of the GEA's environmental goods and services lists, which will account for technical and technological advances and enable new environmental goods and services to be added.
- Environmentally sustainable government procurement including ecolabelling and sustainability related schemes (Annexes B1.5 and Annexes B6.3): environment officials have met twice through a six-monthly bilateral dialogue to pursue areas of common interest including related to best practice ecolabelling, preventing greenwashing and government reporting on environmental sustainability.
- Green and transition finance (Annex B3.1):
- Prime Minister Albanese and Singapore's Acting Prime Minister Lawrence Wong announced on 2 June the launch of the $5 million Asia Climate Solutions Design Grant, a public-private climate finance mechanism co-funded by Singapore and Australia, to support countries in the region to transition to net zero emissions by developing projects in renewable energy, sustainable cities, and nature-based solutions. Further information is available on the Convergence website.
- finance officials are exchanging knowledge, expertise, and approaches to the development of green finance taxonomies, to build greater alignment of sustainable financial frameworks and support and drive investment in clean energy projects in Australia and Singapore.
- Cross-border electricity trade (Annex B4.1): a joint working group has been established and is considering a range of issues to develop the architecture to enable cross-border electricity trade between Australia and Singapore.
- Green shipping cooperation (Annex B4.2): Prime Minister Albanese and Singapore's Acting Prime Minister Lawrence Wong announced on 2 June that Australia and Singapore agreed to establish a Green and Digital Shipping Corridor by the end 2025 to help decarbonise and digitalise the port and shipping industry. Further information is available on the Department of Infrastructure, Transport, Regional Development, Communications and the Arts website.
- CSIRO-A*STAR cooperation (Annex B4.4): a research-industry partnership, with funding of $2.5 million over a five-year period from each side, is advancing projects including related to lithium battery recycling and food waste.
- Green skills roundtable (Annex B5.1): skills, training and employment agencies from Australia and Singapore held their inaugural roundtable in May 2023 to share approaches and policies on developing the necessary skills and capabilities required in a green economy workforce.
- Go-Green Co-Innovation Program (Annex B6.1):
- Prime Minister Albanese and Singapore's Acting Prime Minister Lawrence Wong launched this joint $20 million program which will provide grants to support collaboration between Singaporean and Australian small and medium enterprises to develop green growth business opportunities
- the Program will commence with Austrade and Enterprise Singapore conducting business matching activities in the lead up to grant applications opening later in 2023.
- Austrade and Enterprise Singapore Green Business Partnership (Annex B6.2): agencies, to date, have jointly delivered eight targeted initiatives and networking receptions for private and public stakeholders to facilitate potential partnerships, including in the hydrogen and agri-food tech sectors. Trade and investment opportunities have been highlighted at these industry events, including the Melbourne All Energy in October 2022 and dedicated GEA-event in Singapore in November 2022.
- Measuring the green economy (Annex B6.4): Australian and Singaporean statistical agencies have held six technical working group meetings. Implementation of their two-year work plan is building joint capacity in the collection and compilation of data needed to measure the green economy.
Download the June GEA Implementation Update for further details.