Notice

Memorandum of understanding on the Green Economy Framework between the Government of the United Kingdom and the Government of the Republic of Singapore

Published 1 March 2023

1. Objectives

1.1 The Government of the United Kingdom of Great Britain and Northern Ireland and the Government of the Republic of Singapore (the “Participants”) have decided to sign a Green Economy Framework (this “Memorandum of Understanding”) to formalise and advance bilateral cooperation in areas of mutual interest that support economic growth and create jobs in green sectors, whilst promoting the decarbonisation of economic activities. In doing so, the Participants will build on the robust and longstanding bilateral economic relationship, underpinned by the Free Trade Agreement between the United Kingdom of Great Britain and Northern Ireland and the Republic of Singapore (the “UK-Singapore FTA”) and the Digital Economy Agreement between the United Kingdom of Great Britain and Northern Ireland and the Republic of Singapore (the “Digital Economy Agreement”). The Participants will also take into account their respective obligations under the United Nations Framework Convention on Climate Change and the Paris Agreement, as well as their commitments to their respective decarbonisation goals. Where appropriate, the Participants will utilise existing collaborative structures and bilateral initiatives.

2. Scope of Cooperation

2.1 The Participants recognise the opportunities and challenges arising from decarbonisation and enabling the green economy, and the important role these issues have in enhancing energy security, economic growth and emissions reduction. The Participants also recognise the importance of upholding open, connected and rules-based markets in the green economy. The Participants intend to cooperate in the areas set out under the following Pillars. These are areas of initial interest and may be expanded if the Participants jointly decide to do so.

a) Pillar 1: Green Transport

i. Maritime transport decarbonisation measures, including green and digital shipping corridors.
ii. Air transport decarbonisation measures, including sustainable aviation fuels, improving air traffic management, carbon credits, and green airport initiatives.
iii. Continued bilateral and multilateral cooperation in international fora and negotiations, such as through the International Civil Aviation Organization (ICAO) and the International Maritime Organization (IMO), on achieving targets for decarbonisation.
iv. Strategies and legal frameworks for zero emission vehicles and charging infrastructure.

b) Pillar 2: Low Carbon Energy and Technologies

i. Advancement of low-carbon hydrogen technologies and the development of certification, standards and wider regulations to support the growth of the hydrogen economy.
ii. Policy, regulatory and technical aspects of carbon capture, utilisation and storage (CCUS), sharing of best practices and identification of areas of mutual interests on which to further discussions and cooperation.
iii. Policy, regulatory and technical aspects of grid interconnection, cross-border electricity trade and solutions to improve system resiliency and flexibility, such as energy storage systems and smart grid technologies.

c) Pillar 3: Carbon Markets and Sustainable Finance

i. Cooperation bilaterally and through multilateral initiatives, which may include capacity building programmes, to increase transparency in carbon markets, and advance climate action and ambition through high-integrity international carbon markets.
ii. Cooperation on sustainable finance under the annual UK-Singapore Financial Dialogue, which is co-chaired by the Monetary Authority of Singapore and the HM Treasury.

2.2 In addition to the above Pillars, the Participants intend to explore activities that support collaboration between governments, academia and the business community. This includes activities, such as (but not limited to) information exchanges, and dialogues on technical regulations, collaborations on standards development and adoption of internationally-recognised standards, mutual recognition of conformity assessment procedures in relation to the green economy, enterprise matching for business and co-innovation, green capability development for small and medium sized enterprises, academic and research partnerships, pilot projects, and outreach and promotion. These activities will be set out in the Work Plan (see paragraph 4.3) and updated annually.

3. Involvement in implementation

3.1 Key agencies involved in the implementation of this Memorandum of Understanding include:

United Kingdom: Foreign, Commonwealth and Development Office (FCDO), the Department for Energy Security and Net Zero (DESNZ) Department for Transport (DfT), and Department for Business and Trade (DBT).

Singapore: Ministry of Trade and Industry, National Climate Change Secretariat, Ministry of Transport, Civil Aviation Authority of Singapore, Maritime and Port Authority of Singapore, Land Transport Authority, Enterprise Singapore, and the Monetary Authority of Singapore ^{[footnote 1]}.

3.2 Where appropriate, the Participants may also involve industry partners, academia or other government agencies.

4. Governance and working arrangements

4.1 A Joint Steering Committee (the “Steering Committee”) will be formed to oversee the implementation of this Memorandum of Understanding, co-chaired by Director (Europe) from the Singapore Ministry of Trade and Industry and the British High Commissioner to Singapore.

4.2 The Steering Committee will meet annually or at such other intervals as the Participants may jointly decide. Meetings may be held in person or virtually, with the format being jointly decided by the Participants on a case-by-case basis.

4.3 The Participants intend to develop a Work Plan (the “Work Plan”) to set out priority activities and objectives under each Pillar, including the initial areas set out in paragraphs 2.1a to 2.1c. Working Groups comprising relevant officials across each area of cooperation from the Participants will be responsible for developing and implementing the Work Plan.

4.4 The Steering Committee will review the Work Plan annually and, if necessary, update it to include any new priorities (including the addition of new areas of cooperation). The Working Groups will lead on implementation according to the Work Plan. In addition, there will be ongoing consultations between the Participants and business and academia.

4.5 The Steering Committee will provide updates at the UK-Singapore Economic and Business Partnership about the implementation of this Memorandum of Understanding.

5. Other matters

5.1 This Memorandum of Understanding serves as a record of the Participants’ understanding, and does not create legally binding obligations between the Participants or between either Participant and any third party.

5.2 Unless otherwise jointly decided, the Participants will settle any difference or dispute relating to or arising from this Memorandum of Understanding amicably through consultations and negotiations in good faith between the Participants without reference to any international court, tribunal or other forum.

5.3 Nothing in this Memorandum of Understanding will be interpreted or implemented in a manner that is contrary to, or inconsistent with, the respective international obligations and domestic laws and regulations of the Participants, including existing obligations under the UK-Singapore Free Trade Agreement and the Digital Economy Agreement.

5.4 Each Participant will bear its own costs and expenditures incurred in the course of implementing this Memorandum of Understanding. The activities of each Participant in connection with this Memorandum of Understanding are subject to the laws and regulations that govern that Participant.

5.5 Participants recognise that to facilitate the objectives of this Memorandum of Understanding, information may pass between them. The sharing of information pursuant to this Memorandum of Understanding is subject to the following conditions:

i. A Participant may only use information received from the other Participant for purposes intended to further the objectives of this Memorandum of Understanding.
ii. A Participant may only disclose information received from the other Participant to a third party if the Participant wishing to disclose the information seeks and obtains prior written consent from the other Participant, except in circumstances described in the subparagraph below.
iii. In circumstances where a Participant is legally obliged to disclose any information received from the other Participant under applicable legislation, by court order or for another reason, it will inform the other Participant before doing so or, where that is not possible, as soon as possible after disclosing the information.

5.6 This Memorandum of Understanding will come into effect once it has been signed by both Participants. It will remain in effect unless terminated by either Participant pursuant to paragraph 5.6, or if the Participants jointly decide in writing to terminate it, which they may do at any time.

5.7 Either Participant may give written notice to the other Participant to terminate this Memorandum of Understanding. This Memorandum of Understanding will be terminated three (3) months after such notice is received by the other Participant. The termination of this Memorandum of Understanding will not affect the validity, duration and completion of any activity undertaken pursuant to this Memorandum of Understanding prior to the date of termination unless otherwise decided by the Participants.

5.8 This Memorandum of Understanding may be amended at any time with the written consent of both Participants, and such amendments will come into effect on such date as decided by the Participants.

Signed on 1 March 2023 in English.

For the Government of the United Kingdom of Great Britain and Northern Ireland:

Grant Shapps
Secretary of State for Energy Security and Net Zero

For the Government of the Republic of Singapore:

S Iswaran
Minister-in-charge of Trade Relations

1. Via existing UK Singapore Financial Dialogue and directly with HM Treasury. ↩