He was drawing from a buzz phrase made popular by the Chinese, which means doing the bare minimum to get by. Avoid complacency but don’t adopt "catastrophic thinking", says Tharman Shanmugaratnam at the Ecosperity sustainability conference.
Last month, Germany became the first major economy to announce that it intends to introduce a target to reach “net-negative” emissions later this century.
Southeast Asia's second-largest lender is likely to join rival DBS in backing a managed coal phase-out in line with the Singapore-Asia Taxonomy's criteria. But it remains unclear if the updated coal policy will be 1.5°C-aligned.
Burning all the oil and gas from new discoveries and newly approved projects since 2021 would emit at least 14.1 billion tonnes of carbon dioxide (GtCO2), according to Carbon Brief analysis of Global Energy Monitor (GEM) data.