Singapore

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In a span of 55 years, Singapore has established world-class functioning infrastructure network in all aspects to increase liveability and attract foreign companies to set-up in Singapore. As the most advanced country within Southeast Asia, Singapore is often benchmarked by neighbouring countries as a case study country for best practices. Singapore was ranked the world’s most competitive economy in The Global Competiveness Report, 2019. This is up from second spot for 2018. Being a densely populated, low-lying island, Singapore is vulnerable to rising sea levels, which has been a known consequence of climate change for years. Scientists at the Centre for Climate Research Singapore have projected that by 2100, the sea level around Singapore may rise by up to one meter. Coupled with frequent and heavy storms also brought about by climate change, Singapore needs new measures in order to ensure the island state's survival. In Prime Minister Lee’s speech at the National Day Rally in 2019, he mentioned that climate change adaptation might cost SGD 100 billion or more over the next 100 years. The investments kicked off in early 2020 with an initial injection of SGD 5 billion into a newly established Coastal and Flood Protection Fund (CFPF).