Singapore aiming for net-zero emissions by earning carbon credits
Singapore is stepping up its efforts to achieve net-zero greenhouse gas emissions by earning carbon credits. It's working with countries in Asia, South America and Africa to offset its emissions.
Singapore signed an agreement on carbon credits with Paraguay last month. The deal was the island country's seventh, following those with partners such as Bhutan, Peru and Rwanda.
The credits are tradable instruments for global decarbonization efforts. Singapore provides its partners with technology or funding to cut emissions. When those countries achieve reductions, Singapore gets a share of the earned credits.
The country aims for net-zero emissions by 2050. But it has very limited space for green energy generators such as solar panels and wind turbines.
Singapore hopes that by cooperating with other countries, it can both reduce its carbon footprint and achieve green business expansion.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
NHK
an hour ago
- NHK
Lifting the lid on cybercrime in Japan
The spread of digital services has been mirrored by a steep rise in cybercrime ... and investors in Japan are being targeted. We shine a light on how the criminals operate.
NHK
an hour ago
- NHK
Manufacturer benefits from steps to be female-friendly
A Japanese manufacturer took steps to create a more women-friendly workplace amid labor shortages. It says its efforts improved the atmosphere for all employees and reduced turnover.
NHK
an hour ago
- NHK
Japan's real wages drop for 4th month in April
Japan's inflation-adjusted wages fell for the fourth straight month in April. Salaries rose but failed to keep pace with rising consumer prices. The labor ministry's preliminary data show that real pay dropped 1.8 percent from a year earlier. The ministry surveyed about 30,000 businesses across the country with at least five employees. Workers earned an average 302,453 yen, or a little over 2,100 dollars, in April. That includes base pay and overtime. The figure is up 2.3 percent year on year, marking the 40th consecutive month of increase. Base pay came to 269,325 yen, or nearly 1,900 dollars, rising for 42 months in a row. It was up 2.2 percent compared to a year earlier. Ministry officials say that the base-pay rise was larger than the previous two months due to pay raises at the start of the fiscal year in April. But inflation outpaced the increase. They say they will keep a close watch on the impact of price moves and annual wage negotiations in the spring.
