The climate emergency poses an existential threat but also provides new opportunities around sustainability, Wong told Martin Soong as part of the virtual CNBC Evolve Global Summit.
“We are investing in renewable energy. We are investing in decarbonization technologies like hydrogen, carbon capture. And, we are also looking at building Singapore as a hub for the region when it comes to green finance,” Wong said.
The city-state, which is smaller than New York City, has been working for years to preserve its coastline from rising sea levels and other environmental damage.
Roslan Rahman | AFP | Getty Images
When asked about the criteria used in making green investments, Wong said Singapore considers a wide range of different measures.
“We can look at things like carbon intensity, the efficiency of use of energy, a whole range of metrics that will allow us to ensure that the investments we are putting in are bona fide green investments,” he said.
Read More: Singapore minister Lawrence Wong on climate change, green investments