Singapore-Australia Green Economy Agreement Snapshot
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Supporting growth, jobs and the transition to net zero emissions. Showcasing Australia's commitment and leadership to addressing climate change.
The Singapore-Australia Green Economy Agreement (GEA) is a first-of-its-kind agreement that supports Australia's economic, trade, investment and climate change policy objectives.
Together with Singapore, we are establishing platforms and exploring innovative ways to connect buyers and sellers in the emerging green economy and drive green growth and job creation.
Through the GEA, we are laying the foundations necessary for cross-border economy activities that drive green growth. This includes facilitating flows of environmental goods and services, green and transition finance, and clean energy.
We are focused on delivering tangible benefits for businesses and consumers, while advancing our commitment to transition to net zero emissions economies.
A snapshot of what has already been achieved is provided below.
- Supporting our transition by promoting and enabling trade in 527 environmental goods and services, including addressing any non-tariff barriers
- Facilitating greater business and investment opportunities in green growth sectors, including hydrogen
- Architecture for cross-border electricity trade between Singapore and Australia
- Alignment of sustainable finance policies to attract investment in Australian green and transition projects
- Grants program to incentivise and facilitate small and medium-sized business collaboration in green growth sectors
- Partnerships between ecolabelling and sustainability rating schemes to drive demand for low-carbon, sustainable, and resource efficient goods and services
- Driving skills and capability development in a green economy workforce
- Government and industry working together to build sustainable aviation and green shipping
- Joint statistical project to better measure the size and opportunities in the green economic transition
- Supporting the development of compatible and credible international carbon markets
- Model principles of green economy cooperation to help guide our transition