SINGAPORE, Oct. 23 (Xinhua) -- The 10th Singapore International Energy Week (SIEW) 2017 was launched on Monday morning, which brings together global energy leaders to discuss how to innovate and translate energy solutions that could benefit all.
The SIEW includes a number of conferences and exhibition activities, including the Singapore Energy Lecture, Singapore Energy Summit, Asia Clean Energy Summit Conference and Exhibition, and SIEW Thinktank Roundtables.
Singapore's Deputy Prime Minister and Coordinating Minister for National Security Teo Chee Hean delivered a speech at the Singapore Energy Lecture, which started on Monday morning.
He said energy forms the backbone of a robust and vibrant economy that creates wealth for the society and good jobs for the people of Singapore, and efforts from all sectors will help to accelerate the energy transition, and bring opportunities to provide clean electricity to support economic growth.
Teo outlined three key thrusts that should guide stakeholders in the government's managing energy transition efforts. They are stepping up efforts to improve energy efficiency, harnessing renewable energy in more innovative and efficient ways, and continuing to invest in energy research, development and demonstration.
When talking about energy efficiency, the deputy prime minister reiterated that Singapore will implement a carbon tax from 2019, which Teo said will ensure that those who emit the most greenhouse gases will fairly bear the costs to environment, and further encourages all sectors to reduce their emissions and improve their energy efficiency. He added that revenue from the carbon tax will help to fund measures to help companies reduce their emissions.