SHARM EL-SHEIKH, Egypt - The possibility of Singapore contributing to a donor base for climate finance is still to be negotiated, though the Republic has played a role in helping countries to decarbonise through building capacity and facilitating carbon markets, said Minister for Sustainability and the Environment Grace Fu on Sunday.
A report by the Overseas Development Institute released in 2022 identified countries that have high per capita income and high cumulative emissions, which make them increasingly qualified to pay for climate finance. This puts countries including Singapore and Qatar on the radar. Another way for Singapore to contribute would be to buy carbon credits from countries with renewable resources and which have the potential to facilitate such a trade.