Singapore’s Gan Says Climate Action Most Uncertain in Decade

Action to tackle climate change is facing the most uncertain global backdrop since the Paris Agreement was struck in 2015, according to Singapore’s Deputy Prime Minister Gan Kim Yong.

“Geopolitical shifts and heightened trade and economic uncertainty present significant challenges,” Gan, who serves as the Monetary Authority of Singapore’s chairman, said Wednesday in the central bank’s annual sustainability report. Decarbonization efforts are being impacted as lenders rethink their approach, and with “other institutional supporters of climate action reassessing their commitments,” he said.