Protecting Singapore against rising sea levels could cost S$100 billion ($72 billion) or more over 100 years, its prime minister said on Sunday, as the low-lying island-state makes preparations to mitigate the impact of global warming. "How much will it cost to protect ourselves against rising sea levels? My guess is probably S$100 billion over 100 years, quite possibly more," Prime Minister Lee Hsien Loong said. Lee said Singapore''s future options include building polders, areas of land reclaimed from a body of water, or reclaiming a series of islands offshore and connecting them with barrages.

Singapore''s has already taken some action, including introducing a carbon tax and requiring future critical infrastructure like its new airport terminal and port to be built on higher ground. Earlier this year, the government said it would spend S$400 million over the next two years to upgrade and maintain the country''s drains and strengthen its flood resilience.

The prime minister made the comments in his annual National Day Rally speech, in which he laid out policies and priorities for the government. In the speech, he also said Singapore would gradually raise its retirement age by three years to 65. The retirement age will rise to 63 in 2022 from the current retirement age of 62 and to 65 by 2030, Lee said.

Copyright Reuters, 2019