The leaders of Australia and Singapore have announced what they describe as a world-first agreement to cooperate in transitioning their economies to net-zero greenhouse gas emissions.
Singapore’s Prime Minister Lee Hsien Loong and Australia’s Prime Minister Anthony Albanese outlined their so-called Green Economy Agreement between the two countries after an annual meeting in the Australian Parliament House.
The agreement has 17 components that cover facilitating trade and investment in green services, harmonizing standards and building green growth sectors through collaboration between business.and Singapore is considering adopting the same target. Albanese described Singapore as “one of the most innovative economies in the world,” while Australia had the potential to become a “renewable energy superpower” due to its vast open spaces and relatively small population.The agreement “will support clean energy innovation, unlock business opportunities and create jobs, and help deliver our mission’s targets while positioning Australia as a renewable energy superpower,” Albanese said.
Lee foreshadowed further cooperation in cross-border electricity trade and “sustainable aviation” through what he described as the “world’s first such agreement.”
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