Minister for Foreign Affairs Dr Vivian Balakrishnan recently addressed the Earthshot Prize Innovation Summit, shedding light on Singapore’s unique relationship with the oceans and its proactive approach to addressing the challenges nowadays. He highlighted the significance of the digitalisation of the maritime sector as a critical component in fostering sustainability.
Singapore’s history, culture, and economy are inextricably intertwined with its maritime surroundings. This small but dynamic city-state relies heavily on maritime trade, with a trading volume that is three times its GDP. This unique ratio underscores the vital importance of maritime routes and the sea itself to Singapore’s prosperity and well-being.
Minister Vivian highlighted the global movement toward the decarbonisation and digitalisation of the maritime sector as a significant opportunity. According to him, the shipping industry is a substantial contributor to carbon emissions, releasing one billion tons of CO2 into the atmosphere annually. However, there is immense potential for abatement through innovative strategies.
One such strategy involves the establishment of green and digitally empowered shipping corridors, such as the partnership between the Maritime Port Authority of Singapore, the Port of Los Angeles, and the Port of Long Beach.
This corridor, initiated in April 2023, is part of the green shipping challenge, jointly launched by the United States and Norway. These corridors serve as vital nodes in the transition to lower and zero-emission fuels for ships, creating growth opportunities for businesses and promoting low-emission technologies in maritime port operations.
Minister Vivian added that the decarbonisation and digitalisation of the maritime sector represent a profound transformation that goes beyond mere industry trends; they are significant opportunities that can revolutionise the way shipping and maritime operations are conducted. These two interrelated processes are not just advantageous; they are pivotal in shaping the future of the maritime industry and addressing some of its most pressing challenges.
The synergy between decarbonisation and digitalisation holds great promise, with each complementing the other to produce amplified benefits. One of the key advantages of this partnership lies in the realm of data-driven decarbonisation. Digital tools and technologies offer the means to collect, analyse, and interpret vast amounts of data related to energy consumption, emissions, and environmental impact.
This data serves as the foundation for informed decision-making regarding the implementation and effectiveness of decarbonisation measures. By leveraging digital resources, organisations can ensure that their efforts are both cost-effective and environmentally impactful, directing resources where they are needed most while minimising wastage.
Besides, the fusion of decarbonisation and digitalisation leads to the concept of continuous improvement. Digital analytics tools excel in identifying areas where further decarbonisation efforts can be deployed. This iterative process creates a feedback loop that is indispensable in an industry marked by rapid technological advancements and changing environmental regulations.
In addition, Minister Vivian stressed the importance of international law in guiding the conservation and sustainable use of the oceans. The United Nations Convention on the Law of the Sea (UNCLOS) plays a pivotal role in this regard, providing a comprehensive legal framework for all activities in oceans and seas. Recent accomplishments, such as the “Biodiversity Beyond National Jurisdiction” (BBNJ) treaty, represent significant milestones in global ocean governance.
The Minister is calling for collective commitment and collaboration across public, private, and civic sectors to create a more resilient, sustainable, and equitable world. “As we navigate the digital seas of the future, Singapore stands as a beacon of hope and inspiration for all who share a commitment to safeguarding our oceans and securing a brighter tomorrow,” he concludes.
