SINGAPORE - The Public Utilities Board will take on an additional role as Singapore's national coastal protection agency to defend the country against climate change and sea levels rising.
Singapore's vast network of inland drains will also be expanded and upgraded to cater to more intense and frequent rainfall, said Mr Masagos.To ensure that the measures are implemented in a fiscally sustainable manner, the fund will start with a $5 billion injection from Budget 2020, representing"our generation's contribution" towards the endeavour, he said.
"We need to distribute the share of funding more equitably across current and future generations," he added. While there are already contractual safeguards to ensure the security of Singapore's water supply, Mr Masagos said, the new legislative safeguards will bring the regulatory regime of these plants in line with those of other critical infrastructure such as electricity and telecommunications.
Second, the companies cannot be shut down voluntarily without PUB's consent, and the court will have to consider representations made by the PUB in any proceedings for these companies to be dissolved, terminated or wound up, he said.
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Source: The Straits Times - 🏆 8. / 63 Read more »