Transcript of Remarks by Minister for Foreign Affairs Dr Vivian Balakrishnan at the Leaders Ascent Dialogue on Climate-Smart Investment on the sidelines of the 55th Pacific Islands Forum Leaders Meeting in Koror, Palau, on 1 September 2026

1        Thank you, Mr. President. Alii.

2        I commend the Pacific for your bold ambition to become the world's first 100% renewable powered region. I think the recent disruptions to global energy supplies have been a very stark reminder that the energy transition is not only about climate change. It is also about energy security, economic resilience, and giving small states strategic autonomy and greater control over our future.

3        So the ambition is clear, the challenge is delivery. And I just want to share some perspectives from Singapore – a tiny city-state that is alternative energy disadvantaged with very limited land and very few options for renewable energy, but there are some ideas which I wanted to leave with you.

4        First, the cost of generating electricity from diesel – which I understand is the almost standard way of generating electricity in the Pacific – is far more expensive than generating electricity from a gas-powered combined cycle turbine, as we do in Singapore. So it breaks my heart when I realise that in fact, the cost of energy in the Pacific Islands is higher than even in a place like Singapore. Now the next point is that if gas was obviously economically cheaper, why isn't it done in all the Pacific Islands? And the answer is because you are small and dispersed. And the idea I wanted to leave with you, therefore, is that in fact you need a Pacific grid so that you could run with economies of scale, cost-effective electricity generation, and then share across the wide geography that you have. The other big difference between you and Singapore is that you are “BOS” – Big Ocean States – and therefore you are not short of sunshine or places to generate renewable energy. But there is one more partner – and I was just speaking to Australia Minister for Climate Change and Energy Chris Bowen just now – the renewable energy superpower in the Pacific, is this big subcontinent called Australia. Imagine a day that you have a Pacific grid which is connected to Australia. And even for us in Southeast Asia, we are trying to work on an ASEAN power grid. Because of the east-west spread of our regions, the total number of daylight hours would be more than 12 hours, and you would also get economies of scale, and you will get security – collective energy security – across this region. So I'm just leaving these crazy ideas because we do need to think about the future.

5        At a more practical level, we run an annual Singapore-International Energy Agency (IEA) regional training programme, and we hope more Pacific Island officials will take advantage of this programme. We also organise an annual Singapore International Energy Week. This year it takes place on the 26^th to the 30^th of October, and it brings together policymakers, industry leaders, investors and experts for conversations, including on crazy ideas like mine. So again, we welcome Pacific participation.

6        So I just want to end by saying this is a collective existential challenge for all of us. But in fact, the technology already exists substantially. It's about getting the economics and politics right, and there's so much that we can do as the Pacific Island Forum, as ASEAN, and with our friends in Australia and New Zealand. Thank you.

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MINISTRY OF FOREIGN AFFAIRS

SINGAPORE

2 SEPTEMBER 2026