Jeraldine Yap reports from Lima, where discussions on carbon markets are taking place. Singapore Prime Minister Lawrence Wong has stressed the crucial role of enhancing collaboration on carbon markets among member economies. He declared that achieving net zero emissions is impossible without properly pricing carbon, highlighting Singapore's readiness to lead in this collaborative effort.
The topic of carbon markets and the pathway towards net zero dominated discussions among member economies. Prime Minister Wong underlined the importance of carbon pricing, asserting that it is an essential step toward reaching net zero. Singapore's commitment to spearhead efforts in enhancing collaboration among member countries reflects its proactive stance in addressing climate challenges.
In Lima, the urgency to properly price carbon has been a focal point, aligning with the broader dialogue on achieving net zero emissions. Wong emphasized that without appropriate carbon pricing mechanisms, the goal of net zero remains unattainable. This sentiment underscores the need for a unified approach among nations to develop effective carbon market strategies.
Singapore's willingness to lead in fostering collaboration on carbon markets is indicative of its commitment to global environmental responsibilities. The discussions in Lima underscore a collective acknowledgment that enhancing collaboration can significantly impact the effectiveness of carbon markets. By advocating for proper carbon pricing, Singapore aims to inspire other economies to take similar actions towards sustainable practices.
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