Singapore: Governments worldwide urged to intensify research efforts on climate change

Channel NewsAsia 7 Nov 07;

SINGAPORE : Singapore is calling on governments worldwide to pro-actively intensify research efforts to understand climate change better.

The call came from Minister of State for Trade & Industry S Iswaran, who was speaking at the Carbon Forum Asia 2007 on Wednesday.

He also urged authorities to drive the development of transformational technologies.

"In the deployment of these technologies, clear market signals are required, be it through carbon taxes, emissions trading or emission standards, so that markets can find a suitable price for carbon," said the Minister of State for Trade & Industry.

"For developing countries, the price of carbon for the credits generated under the Clean Development Mechanism or CDM will continue to spur private sector interest to undertake emission reduction projects," he added.

The minister said that transformational energy technologies and a price for carbon were needed to rationally influence investment decisions. - CNA /ls