Insurance sector highlights markets' hidden role in supporting Singapore's carbon pledge

Published Tue, Oct 27, 2020 · 09:50 PM

THE Singapore government is considering a range of options to combat climate change, with recent initiatives under consideration including electric harbour boats, planting one million trees by the end of the decade, positioning the city-state as Asia's carbon hub, and establishing a new green finance centre to drive research and nurture talent.

In recent weeks, there has also been mention of a "green credit" scheme for consumers to offset carbon as well as increase hydrogen adoption.

Five years ago, Singapore pledged to reduce its carbon emissions intensity - the amount of greenhouse gasses emitted per dollar of gross domestic product (GDP) - by 36 per cent from 2005 levels by 2030, and to stabilise emissions with the aim of peaking around 2030. Si…