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  Channel NewsAsia 7 Nov 07
Govts worldwide urged to intensify research efforts on climate change

Channel NewsAsia 6 Nov 07
Clean energy R&D gets $170m boost
Pamela Almeda

Singapore has set aside $170 million for research into clean energy, to encourage more firms and organisations to use renewable energies and environmentally-friendly technologies.

Announcing this at a seminar yesterday, Minister for the Environment and Water Resources Yaacob Ibrahim said this funding from the National Research Foundation would provide support "for world-class R&D centres, and offer Singapore as a global test-bed and site for early adoption".

The growth in technological know-how will also allow more local companies to embark on emissions trading and pollution-reducing projects.

Under the United Nations climate change treaty, countries unable to meet their carbon emission targets can buy credits from others who do.

Executive secretary Yvo De Boer of the United Nations Framework Convention on Climate Change, said: "It's a very rapidly growing market; last year, it was already worth US$30 billion. Some people are saying that it could be worth as much as US$60 billion this year.

"And I would expect that as the action on climate change develops, as we develop the post-2012 climate change regime, the market will grow even more significantly and play an ever increasing role."

Some companies in Singapore are already participating in this growing market.

Mr David Leong, executive chairman of Aretae, thought Singapore "very well positioned to be in the emissions trading market and also in the project development market".

"We are in between China and India, the two biggest producers of carbon credits today. And we have the Asean region, where there are a lot of opportunities to reduce greenhouse gas emissions from agriculture and industry," he added.

Some 1,000 participants are attending The Carbon Forum Asia here, which ends today. Channel NewsAsia

Channel NewsAsia 7 Nov 07
Govts worldwide urged to intensify research efforts on climate change

SINGAPORE : Singapore is calling on governments worldwide to pro-actively intensify research efforts to understand climate change better.

The call came from Minister of State for Trade & Industry S Iswaran, who was speaking at the Carbon Forum Asia 2007 on Wednesday.

He also urged authorities to drive the development of transformational technologies.

"In the deployment of these technologies, clear market signals are required, be it through carbon taxes, emissions trading or emission standards, so that markets can find a suitable price for carbon," said the Minister of State for Trade & Industry.

"For developing countries, the price of carbon for the credits generated under the Clean Development Mechanism or CDM will continue to spur private sector interest to undertake emission reduction projects," he added.

The minister said that transformational energy technologies and a price for carbon were needed to rationally influence investment decisions. - CNA /ls

Related articles on Singapore: general environmental issues
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