Synopsis: Every first and third Monday of the month, The Straits Times analyses the beat of the changing environment, from biodiversity conservation to climate change.
A set of rules on carbon markets was agreed on at the COP26 climate summit in Glasgow in November, allowing countries to cooperate with one another to achieve their climate targets. Instead of focusing solely on reducing emissions within their own borders, countries now have the option of buying carbon credits generated elsewhere to offset their emissions. But what would this all mean for the private sector, and for countries like Singapore, which is too small to host any significant emissions reductions projects nor be a large buyer of carbon credits?
In this episode, environment correspondent Audrey Tan and climate change editor David Fogarty speak with Ms Elizabeth Beall, climate and sustainability practice lead at advisory firm Global Counsel, on the role of the private sector in international carbon markets and how Singapore is poised to be a leader in carbon services.
Highlights (click/tap above):
04:13 What do corporations that buy offsets stand to gain beyond claiming credit for sustainability efforts?
06:08 How will the COP26 outcome on carbon markets change the corporate appetite for carbon credits?
09:23 Will the private sector see greater governmental intervention in voluntary carbon markets?
12:23 Singapore aspires to be a carbon services hub. What does this mean?
13:42 What are the changes in the private sector that the recent outcome is expected to spur?
Listen to Ep 66: Article 6 - Rise of the carbon markets? - https://omny.fm/shows/green-pulse-1/article-6-rise-of-the-carbon-markets-green-pulse-e
Carbon credits explained: https://www.straitstimes.com/world/carbon-copy-tricky-carbon-market-rules-struggle-to-get-off-the-ground
Produced by: Audrey Tan (audreyt@sph.com.sg), David Fogarty (dfogarty@sph.com.sg), Ernest Luis and Hadyu Rahim
Edited by: Hadyu Rahim
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