Launch of the International Blue Carbon Institute at the COP27 Singapore Pavilion - Ms Grace Fu

Speech by Ms Grace Fu, Minister for Sustainability and the Environment, at the Launch of the International Blue Carbon Institute at the COP27 Singapore Pavilion

Distinguished colleagues,

Ladies and Gentlemen,

1 A very good afternoon to everyone. I am delighted to join Conservation International and Amazon at the launch of the International Blue Carbon Institute at the Singapore Pavilion at COP27.

2 Last year, COP26 saw the conclusion of Article 6 of the Paris Agreement rulebook, which set out a framework for countries to cooperate with each other to achieve the emissions reduction targets. Egypt as the COP27 presidency has asked for this to be an Implementation COP, urging countries to move ahead to translate words into action, and implement the solutions needed for climate mitigation and adaptation.

3 The implementation of blue carbon initiatives will enable countries to realise their climate ambition, both in mitigation and adaptation. Southeast Asia, with its vast stretches of mangroves and coastal eco-systems, has tremendous potential for blue carbon initiatives, that will also support environmental protection, biodiversity conservation and livelihoods and heritage of local communities.

4 To realise this potential, we need enablers. First, we need to develop the methodologies, tools and scientific research to quantify its benefits. Second, countries need to build up the human capacity to design, develop and implement high-quality blue carbon projects. Third, we need partnerships among stakeholders, in academia, policy, philanthropy, in the region to scale these solutions, and unlock opportunities.

5 The International Blue Carbon Institute will develop these enablers and contribute to protecting and restoring coastal marine eco-systems across Southeast Asia, the Pacific and beyond. Working with partners across the region, the institute will build up the multi-sector, multi-disciplinary capacity needed to accelerate and scale up these efforts.

6 As an organisation with a strong focus on nature-based climate solutions, Conservation International will lead this Institute. Singapore is excited to partner Conservation International on this momentous initiative, made possible with the support of Singapore’s Economic Development Board (EDB), Amazon and other partners.

7 We look forward to working with likeminded partners to collectively advance global climate ambition and action to create a better climate future for future generations.

8 Thank you