India, Singapore cooperation in climate finance has promising future: NITI Aayog VP Bery

Singapore: The cooperation between India and Singapore in the field of green finance has a promising future, NITI Aayog Vice Chairman Suman Bery has said, asserting that the two countries can work within the framework laid out in the G20 New Delhi Leaders' Declaration on sustainable finance.

The three-day Singapore visit of the National Institution for Transforming India (NITI) Aayog's vice-chairperson came under the Distinguished Visitors Programme (DVP) of Singapore's Ministry of Foreign Affairs. It aimed to strengthen bilateral ties and foster mutual cooperation across all levels, according to the foreign affairs ministry here.

“India and Singapore can make something quickly and important happen in terms of green finance-climate finance within the framework that has been laid out in the New Delhi Leaders' Declaration on sustainable finance,” he said after concluding the visit to understand thinking among planners in the city-state.

Adopted on September 9 last year, the G20 New Delhi Leaders' Declaration resolved to pursue environmentally sustainable and inclusive economic growth and development in an integrated, holistic and balanced manner, among other things.

“Green finance is a specific issue that I had a dialogue with here and provides a great deal of promise for the future,” Bery said.

During his visit from January 16 to 19, Bery held dialogues with major institutions in the city-state, including the Economic Development Board, the Urban Redevelopment Authority and the Monetary Authority of Singapore. “Being here as a distinguished visitor gave me the freedom, at my request, to engage and interact with these institutions,” he said.

During a media interaction, Bery said that his visit was to understand how Singapore looks at the medium-term in Asia and how India could understand long-term thinking in the city-state.

He noted that Singapore has pioneered artificial intelligence (AI) in Asia and plans to triple the pool of AI experts to 15,000 as part of the National AI Strategy 2.0 unveiled in December.

Since technology establishments in Singapore and India are comfortable with each other, he said there could be scope for technological human interchange in this area.

Region-wise, he pointed out that Singapore has always advocated for India's presence in the ASEAN Circle.

“Singapore is very interested in India being more active in ASEAN, and there are good reasons for us to do that, for it is the fast-growing part of the world,” said Bery, underlining India’s historical civilisation links with the region.

Launched in 2005, the DVP invites foreign dignitaries to Singapore to strengthen bilateral ties and foster mutual understanding and cooperation by exchanging views with Singapore leaders and senior officials.

NITI Aayog is the premier public policy think tank and resource centre for the government of India, promoting research and innovation and providing strategic policy vision on India’s national development and economic priorities.