Minister Tan See Leng urges faster climate action and announces new measures to boost carbon markets at GenZero Climate Summit Insights 2025.
Minister for Manpower and Second Minister for Trade and Industry, Dr. Tan See Leng, officially opened the first GenZero Climate Summit Insights 2025 this morning, calling for urgent and united action to tackle climate change.
Speaking to distinguished guests, industry partners, and policymakers, Dr. Tan addressed the summit theme “Overcoming Paralysis”, highlighting the slow progress in global climate action despite the Paris Agreement being signed a decade ago.
Dr. Tan stressed that economic pressures such as slow growth, rising protectionism, and inflation must not be an excuse for delaying climate efforts. “Nature waits for no one,” he said. “Choosing inaction today is effectively choosing a grim future.”
The event, co-organised by GenZero, the Economic Development Board (EDB), and Enterprise Singapore, served as a call to reinvigorate carbon markets, a key tool in achieving global decarbonisation goals.
Dr. Tan identified three major challenges holding back carbon markets: a lack of common standards, financing gaps, and capacity shortages.
Singapore is pushing to harmonise standards by collaborating with international carbon credit programmes like Verra and Gold Standard. The country is also developing voluntary guidance to help companies participate more confidently in voluntary carbon markets.
In response to financing challenges, Dr. Tan announced new initiatives, including a Carbon Project Development Grant launched at COP29 and a new partnership between EDB and Temasek Trust Foundation Advisors to mobilise more impact capital for early-stage projects.
For capacity building, the government plans to expand support to other countries and train more local professionals through the new Carbon Markets Academy of Singapore, a collaboration between Enterprise Singapore, EDB, and Nanyang Technological University. Additionally, the National University of Singapore will introduce a Professional Certificate in Carbon Services and Trading.
Today also saw the launch of Singapore’s first national Carbon Services and Trading Skills Framework, developed with industry consultation to guide future education and workforce planning.
Dr. Tan closed his speech by encouraging participants to stay committed to the global net-zero journey. “Every obstacle we overcome today becomes a stepping stone for a better world tomorrow,” he said.
The GenZero Climate Summit Insights 2025 continues with sessions exploring solutions for a sustainable future.
Source – MTI
