The Economic Society of Singapore (ESS) today launched a youth essay competition with the topic of “Identifying Opportunities and Powering Sustainable Growth in Singapore”.  This competition aims to raise awareness amongst young adults on energy and climate change issues, and to identify opportunities which could lead to a sustainable growth path for Singapore. The competition is jointly supported by the Energy Market Authority (EMA) and the National Climate Change Secretariat (NCCS).

“Economics is more than finance, banking and investment. Any inquiry into the allocation of scarce resources among competing needs requires a good understanding of economic principles. Global warming, climate change, and energy efficiency are all matters of great concern to economics. For the first time, the Society is partnering EMA and NCCS in this essay competition focusing on this often neglected area of economic applications,” said Professor Euston Quah, President, Economic Society of Singapore.

As a resource-constrained country, Singapore needs to ensure that energy does not become a limiting barrier for its economic competitiveness and growth, while also playing a part as a member of the global community in mitigating carbon emissions. At the same time, Singapore’s strong engineering capability, competitive markets and suitable location for test-bedding new technologies, makes it ideal for the development of innovative solutions to drive sustainable growth. The essay competition thus encourages students to discuss how Singapore can capitalise on economic opportunities that may emerge from new markets, new technologies and innovation.

“To forge a progressive energy landscape for sustained growth, Singapore needs to develop economically sound policies and solutions that optimise energy security, price competitiveness and environmental sustainability. This essay competition is a good platform for EMA to engage our youths, and draw on their ideas and suggestions to help shape Singapore’s energy future,” said Mr Chee Hong Tat, Chief Executive of the EMA.

“Singapore has long strived to achieve the twin goals of growing the economy and protecting the environment. We are well positioned to support the development of climate-friendly technologies, services and solutions. Our policies to address climate change will continue to encourage and nurture our potential to develop solutions that can benefit the world, and turn Singapore into a green growth hub. This will create high-value jobs for Singaporeans and propel our economy along a sustainable growth trajectory. Through this essay competition, our students and youths are encouraged to examine these challenges and participate in the development of innovative ideas to harness opportunities arising from climate change,” said Mr Tan Yong Soon, Permanent Secretary (National Climate Change).

The essay competition is open to all pre-university students in Singapore, including pre-university Singaporean students studying abroad, and will run for two months starting today. Cash prizes will be awarded to the top three essays with the winner receiving S$3,000, the runner up S$2,000 and the third prize winner S$1,000.

More information and entry forms for this competition can be found on the ESS website at www.ess.org.sg. The closing date for this competition is 8 May 2012.