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Eco business.comCarbon industry experts have identified investments in energy efficiency projects as the biggest potential for Singapore’s energy landscape.

The country’s National Environment Agency’s Climate Change Programme assistant director Adrian Tan said on Thursday that an increasing number of companies are harnessing the potential of these small-scale projects despite their yielding significantly lower carbon credits than large-scale lucrative natural energy projects.

Carbon credit projects are validated by the United Nations under its Clean Development Mechanism (CDM) scheme.

Read more: Next wave of carbon projects in energy efficiency

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The market for so-called "Green Bonds" is expected to double in the year ahead.

Experts say that about US$1 trillion is needed every year to finance government targets of carbon reduction and sustainability and it's the bond market that holds the key.

While many developed economies have made aggressive targets to handle climate change, many are still grappling with the recovery from the global economic and financial tsunami of 2009, making it difficult for public sector investment to contribute to the US$1 trillion needed annually until 2030 to lower carbon emissions.

However, experts say that about 60 per cent of the money could come from so-called green bonds which target institutional investors.

Read more: Market for "Green Bonds" expected to double next year

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A survey has found that Singaporeans are more concerned about the economy than about climate change.

The HSBC Climate Change Monitor found that only 12 per cent of respondents in Singapore ranked climate change as a top concern.

This is amongst the lowest across the countries in the survey. Only France, Britain and the US scored lower. 

Read more: S'poreans more concerned about economy than climate change: survey

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