In a significant statement made during a conference in Lima, Singapore Prime Minister Lawrence Wong emphasized the critical role of carbon pricing in achieving net zero emissions. Reporting from Lima, Jeraldine Yap highlighted Prime Minister Wong's remarks on the necessity of enhancing collaboration among member economies to properly price carbon—a pivotal move towards addressing climate change and reducing greenhouse gas emissions. The Prime Minister's call for collective action in carbon markets forms a key takeaway from the high-level meeting.
Prime Minister Wong underscored that without appropriately pricing carbon, reaching net zero emissions remains an unattainable goal. He identified proper carbon pricing as an essential pathway in the global efforts to mitigate climate change. His statement came amid discussions on carbon markets, where he reiterated the importance of cooperation among nations to develop effective carbon pricing mechanisms.
The Prime Minister's remarks reflect a growing consensus on the need for coordinated strategies to tackle climate change, particularly through market-based solutions. By emphasizing collaboration, Wong pointed out that member economies must work together to establish robust frameworks for carbon pricing, which can drive significant reductions in emissions.
Although the specific member economies involved were not detailed, the context of his statement strongly suggests that it was directed towards countries participating in the conference. The emphasis on collective action indicates a shift towards more unified international efforts in combating climate change.
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