STATEMENT BY MR VIVEK GANESH, FIRST SECRETARY (POLITICAL), PERMANENT MISSION OF SINGAPORE TO THE UNITED NATIONS, AT MULTISTAKEHOLDER PANEL 1 OF THE INFORMAL DIALOGUE ON BUILDING GLOBAL RESILIENCE AND PROMOTING SUSTAINABLE DEVELOPMENT THROUGH INFRASTRUCTURE CONNECTIVITY, UN SUSTAINABILITY WEEK, 18 APRIL 2024

1        Thank you very much to the esteemed panellists for your insights, especially on the importance of data-driven planning and for outlining the various initiatives available to us.

2        As previous speakers alluded, no one is an island. Even islands like Singapore and Manhattan cannot survive unconnected. Infrastructure connectivity enables the movement of goods, services, and people.

3        As an urbanized small island developing state, Singapore recognises that being plugged into the world is vital for our survival. In this context, I would like to make four points.

First, as we heard from the panel, we need strong governance to ensure consistent and inter-operable standards that also promote sustainable development. If physical infrastructure connectivity is the ‘hardware’, it is important not to overlook the ‘firmware’ which includes processes, rules, and regulations that translate policy intentions into actual platforms. A first step is to create a common vernacular of global public goods. To this end, Singapore developed the Singapore-Asia Taxonomy for Sustainable Finance to classify green economic activities to provide clarity in developing, financing, and catalysing sustainable infrastructure projects.

Second, we must supplement existing capital pools for sustainable infrastructure investment through alternative financing. There is an abundance of private capital ready for connectivity projects. Blended and catalytic financing can unlock such capital. Singapore launched a Green Investment Programme to issue up to S$35 billion of green bonds by 2030 for public market investment strategies with a strong green focus. These help build financial capabilities in environmental risk management. We must also

capitalise on public and private sector synergies to build an ecosystem for partnership at each stage of project development. Governments and the public sector must lead the way.

Third, we must explore different technologies to scale up infrastructure connectivity. We have seen states implement city operational centres that tap on the pulse of the city, creating a symbiosis between key agencies and citizens; a “digital spine” to support infrastructure activities. Digitalisation should also be leveraged to triage and manage existing brownfield infrastructure, which are responsible for almost 80% of greenhouse gas emissions across the transport, energy, and building sectors.

Fourth, international cooperation is vital. Governments must work together to establish the regulatory frameworks, infrastructure, and the ecosystem that infrastructure connectivity will require. It is pragmatic to ensure that our collaboration achieves mutually beneficial and compatible outcomes. One positive example is the Lao PDR-Thailand-Malaysia-Singapore Power Integration Project (LTMS-PIP) launched in 2022. Singapore is also working with Indonesia, Vietnam, and Cambodia on cross-border electricity trading to form the basis for a future ASEAN Power Grid, which will help the region decarbonise while building backup capacity for each ASEAN member state.

4        In closing, developing resilient infrastructure connectivity will require the political will and financial commitment of both the public and private sectors to create enabling environments for such projects to be bankable and sustainable.

5        Thank you.

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