SINGAPORE - To address economic and climate objectives at the same time, Singapore needs to adopt a three-prong approach that includes leveraging green finance to manage the risks of climate change and mobilise capital for green and low-carbon investments. Speaking at the European Union (EU)-Singapore Dialogue on climate change on Thursday (Nov 5), Minister of State for Sustainability and the Environment Desmond Tan said that to succeed in its efforts, the country also needs to plan ahead for a smooth low-carbon transition and build resilience against environmental shocks. "Covid-19 has accelerated pre-existing trends, including rising protectionism, rising inequalities and global warming. "The onus is on us to continue to look beyond the immediate Covid-19 crisis and prepare for these long-term challenges, notably climate change. "This has always been Singapore's approach to development - to look and plan long term," said Mr Tan. He said the Government's strategy sends a powerful signal for other stakeholders to act, especially the private sector and investors. "If we all develop and implement long-term decarbonisation plans, it will facilitate the shifts needed for the transition...