Singapore and Japan are collaborating further on energy transition and decarbonization through a new bilateral Energy, Sustainability, and Climate Change Cooperation Framework, according to a news release by Singapore's Ministry of Trade and Industry on Sunday.
The framework targets joint efforts in cross-border electricity imports; low-carbon hydrogen/ammonia; carbon capture, utilization and storage; civil nuclear energy; LNG; advanced grid systems; and offshore wind. Areas of collaboration will include policy exchanges, business matching, financial support facilitation and standards harmonization to accelerate project deployment.
The new framework expands on a 2024 Singapore-Japan Memorandum of Cooperation focused on carbon capture and storage cooperation, reflecting developed ties in energy security and net-zero goals. Ongoing projects by Singapore-based firms include Seatrium's heavy-lift vessels for Japanese offshore wind and Sembcorp's efforts to develop green ammonia supply chains with Sojitz and Kyushu Electric.
The framework also supports both countries' Paris Agreement pledges.
Singapore has committed to net-zero emissions by 2050, with interim targets to cut emissions to about 60 million metric tons of carbon dioxide equivalent in 2030 and 45 million to 50 million mt by 2035. It implements this through its carbon tax regime, currently at S$45 ($35.12) per metric ton and set to rise to S$50-S$80/mt by 2030.
Japan aims to reduce greenhouse gas emissions by 46% from 2013 levels by 2030 and 60% by 2035. It pursues emissions trading via its Tokyo Cap-and-Trade, Joint Crediting Mechanism for international credits and GX Emission Trading Scheme, alongside subsidies for low-carbon technologies.
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--Reporting by by Sang Ah Lee, slee@opisnet.com; Editing by Mei-Hwen Wong, mwong@opisnet.com
(END) Dow Jones Newswires
03-16-26 0101ET
