Madam President,
Excellencies,
Ladies and Gentlemen,

Good morning.

Welcome to the seventh edition of Ecosperity.

This year’s meeting makes a comeback after last year’s gap. While COVID-19 is far from over, I am pleased to see Ecosperity’s first hybrid meetings done with a combination of in-person attendance – with all of you here – and many more joining us virtually from around the world.

This event will explore new ideas and forge partnerships as we seek to tackle another big crisis confronting humanity – the looming climate emergency.

Even as countries learn to cope with the health and economic crises arising from the pandemic, we must step out and step up our efforts against climate change, or should I say, climate emergency.

The situation on the climate front is accelerating in three areas.

First, every community is feeling the negative effects of changing climate and they are accelerating, with more serious weather-related events costing lives and livelihoods. All this warns of worse to come, if we do not act fast.

The second acceleration is action. Growing, sustained actions, being led by corporates, governments, and even citizens worldwide, focusing on more eco-friendly lifestyles, policies, and practices.

It is a good start, but there needs to be more, and it must be faster.

The third acceleration is the development of more sustainable technologies that mitigate climate change and its effects. More capital is being deployed to bring them to scale, to market and ultimately, to fruition.

Acceleration in climate change

The report by the United Nations Intergovernmental Panel on Climate Change, or IPCC, confirms that climate change is accelerating past the point of no return.

The report was described as code red for humanity. It is a stark reminder that, unless we take action to save our planet, we may face catastrophes during our lifetime that are at least on par with, or be worse than, the human impact of COVID-19.

It makes for grim reading. It may also be our last reminder to accelerate our collective efforts to do good for our planet.

Acceleration in proactive action

This leads me to the second acceleration – greater commitments and a momentum for action.  We see many more organisations pledging to embed climate change and sustainability as part of their corporate strategy. They recognise the strategic role in preserving and creating long term sustainable value. Organisations that don’t will suffer value erosion, be left behind and may not survive.

More are pledging emissions reductions, committing to net zero goals, and accelerating their efforts.

Madam President, ladies and gentlemen,
Singapore’s own Green Plan 2030, which builds upon decades of work seeded by its first plan in 1992, underscores our commitment to develop, refine, and act on a climate action blueprint.

We must accelerate the pace of bold, proactive actions to address climate change – to drastically reduce carbon emissions, and to make the global net zero ambition a reality.

At the individual level, I know many of you have made personal commitments to conservation and other environmental initiatives or sacrifices. Whether it’s more sustainable proteins in your diet; or using devices that save water and energy, no effort is too small.

Going forward, we need these actions to catalyse others. While no effort is too small, even the biggest efforts won’t be enough unless multiplied.

Acceleration in sustainable solutions

The pace at which sustainable solutions are being developed and brought to market is accelerating. Technology and innovation are key. The human spirit of ingenuity often comes to the fore when we face our greatest challenges.

COVID underscores this point. It took us fifty years to come up with a vaccine for polio, yet we had multiple viable candidates for COVID inside a year.

I choose to be an optimist; that science, innovation and the human entrepreneurial spirit can combine to help us find solutions to some of the greatest challenges causing our planet to warm.

Early-stage technologies – pioneered by start-ups with no track record – are now sourcing capital from serious investors, taking a long term view to fund stages of development.  Hot springs of innovation are bubbling up all over the world, attracting more patient, long term capital than in past years.

Solutions cover areas like food, energy, water, transportation, waste, materials and urban living – sectors where capital can deliver real impact.  

We conceived Ecosperity in 2014 with a belief that economic prosperity must go hand in hand with our ecology.  This vision brought together different stakeholders to share perspectives and experiences. From this sharing comes bold ideas, and ultimately, action.

This year’s Ecosperity will address topical issues under the banner of: Decarbonisation and Climate Action; Reimagining Nature and Resources; and Sustainable Investing and Finance.

These topics should help seed timely discussions and ideas as we tackle the climate emergency. My real hope is we catalyse these new ideas, and that all of us leave Ecosperity 2021 making one new commitment to action.

We all know some still question climate change. We can’t afford to dismiss these folks or their beliefs. We must find better ways to inform, educate, persuade, and change mindsets so that people understand we are running out of time.

The collective experience and wisdom gathered at Ecosperity can educate and inform, catalyse and embolden, and critically, drive to act.

Collaborative efforts

COVID has shown that the world can come together. However, let’s not wait for the seas to rise to our ankles and knees, or for the climate crisis to show even worse effects, before we act. We’re way past a wake-up call. It’s now all about what we are doing – individually, collectively, as companies or as states – to change.

Climate is the most critical element of our shared, collective future. We invest in the future we want. We invest in the future of our grandchildren. That’s down to each and every one of us.

Now, tomorrow, and every day forward.

I wish you all a successful and meaningful Ecosperity. Thank you.