Morrison's argument that the Pacific Islands nation should be entitled to extract deep-sea minerals to support its sovereign wealth fund comes amid mounting opposition to seabed mining. He was speaking at Impact Week in Singapore.
Singapore's sovereign wealth fund says the odds of “delayed disorderly transition” and “too little too late” scenarios have risen amid current economic and geopolitical headwinds. State investor peer Temasek is also reviewing its baseline climate scenario.
Experts say the bonds will attract international investment in China’s green transition, bringing private funding and boosting international climate cooperation.
Despite near-term volatility, Singapore’s sovereign wealth fund sees closer trade ties between China and developing countries as a long-term tailwind for investments into clean energy technologies.