S1E109: How Singapore sets the global standard for carbon offsets: Grace Fu

Find out why support from governments could be just what the
market needs to improve quality and integrity.


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.


Carbon credits have been in the news a lot lately. And not always
for the right reasons, with concerns about whether they really do
help reduce emissions. 


Yet carbon credits can be a useful tool in tackling climate
change. Paying investors for every tonne of carbon emissions they
take out of the atmosphere or avoid from being emitted can help
developing nations ramp up climate action. 


What is needed is tougher standards and more careful vetting of
carbon offset projects. And Singapore, which is positioning
itself as a global hub for carbon offset trading and project
financing, is helping drive efforts to boost the quality and
integrity of carbon offsets. 


For instance, the government recently announced the eligibility
criteria for carbon offsets that can be used by big polluters
under the nation’s carbon tax regime. 


In this episode, ST's climate editor David Fogarty hosts
Singapore’s Minister for Sustainability and the Environment Grace
Fu, to find out more about this. 


Highlights (click/tap above):


1:05 Why are carbon credits a useful tool and how can they help
Singapore meet its climate targets?


5:26 Yet concerns remain about carbon offsets. Why is that?


9:59 What are the new eligibility criteria for offsets that can
be used in Singapore’s carbon tax regime?


15:03 How will carbon offsets used by firms in Singapore be
vetted?


19:37 What are corresponding adjustments?


24:05 Will the 5 per cent offset cap in the carbon tax scheme be
increased?


Produced by: David Fogarty (dfogarty@sph.com.sg), Ernest
Luis, Hadyu Rahim & Amirul Karim


Edited by: Hadyu Rahim


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Special edition series:


True Crimes Of Asia (6 eps): https://str.sg/i44T


The Unsolved Mysteries of South-east Asia (5 eps):
https://str.sg/wuZ2


Invisible Asia (9 eps): https://str.sg/wuZn


Stop Scams (10 eps): https://str.sg/wuZB


Singapore's War On Covid (5 eps): https://str.sg/wuJa


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