News / #natural gas
Singapore's DBS Bank is newly listed among the top 60 banks globally which committed US$705 trillion into fossil fuel financing in 2023, a new report shows.
Minister Grace Fu suggested that the region's emissions allowance would be better spent on manufacturing industries needed to sustain the aspirations of a young and growing Southeast Asia. Countries besides Singapore are needed to build an Asean renewables-based energy grid.
Economist Michael Greenstone, who first put a price on emissions for the US government, says that unless the price gap between fossil fuels and clean energy narrows, poor countries will face difficult trade-offs amid climate breakdown.
The country’s largest utilities could have 11 million more tonnes of liquefied natural gas per year than needed by 2030. The resultant gas exports could create overcapacity and fry climate targets in emerging Asian markets, analysts say.
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COP28 climate dispute: what are 'unabated' fossil fuels?
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