ANGUS TAYLOR: Thank you Minister Chan.

I am very pleased to be joining you. Good to see Bruce here.

It is fantastic that we are able to get together, albeit virtually of course which is the way we are doing things more and more these days.

I really want to personally thank you for hosting the event on the sidelines of the Singapore Energy Week for this year.

Of course, you know as we know, we are long-standing strategic partners and that includes commitment to energy.

The finalisation of the MoU that we are signing today is a step up in our cooperation in that really critical area of energy.

It demonstrates our commitment to driving down the cost of emerging low emissions technologies and to achieve the goals – to meet and beat the goals indeed of the Paris Agreement.

It is focused on practical action in a range of areas including hydrogen, carbon capture and storage, renewable energy trade, emissions monitoring and long-term emission reduction strategies.

Our cooperation will support not just our efforts to reduce global emissions – Singapore’s and Australia’s - but importantly global efforts to reduce emissions, whilst keeping our economy strong. And of course that is our strong focus.

We’ve recently developed a Technology Investment Roadmap which has behind it $18 billion of Australian Government funding over the next 10 years.

We expect $50 billion or more of accompanying funding coming from the private sector, state governments and others like research institutions over the next decade in those areas.

We have identified 5 priority technologies and stretch goals attached to each one of those technologies.

Achieving those goals of those new and emerging technologies we know will bring down emissions and strengthen our economies at the same time. Of course that is the focus of these efforts.

It is a real delight to have this opportunity to sign this MoU with you - strengthen that all important relationship for Australian with Singapore and we wish you the best for the remainder of Singapore Energy Week.

ENDS