Embarking On The Green Journey

News
See All News and Events
Malavika Bambawale Managing Director, Sustainability Solutions - APAC
Sustainability Transformation
Greenhouse Gas Emissions
Green Transition

How do you see carbon trading as a tool for businesses to reduce their greenhouse gas emissions?

Victor Mills, Chief Executive, Singapore International Chamber of Commerce

Carbon trading is a means to an end. It is not an end in itself. It is a way for companies to enable their transition towards eliminating emissions of greenhouse gases over time. This is a critical transition for companies to embark on and achieve in their own best interests.

The transition is the best hope we have to reduce the negative impact of climate change and ensure the survival of the human race and our planet. Carbon trading is not an alternative to embarking on and achieving the transition. It is the means to that important and urgent goal.

Patrick Lee, Cluster CEO, Singapore & ASEAN Markets Standard Chartered Bank

The need to tackle climate change is real but often our efforts to decarbonize are not enough to reverse the damage to our planet. Carbon offsetting should exist as an integral complementary of companies' broader climate strategies to deliver a viable net-zero solution.

By participating in a transparent carbon market, companies can buy quality carbon credits to compensate for hard-to-abate emissions of sell credits to finance nature-based solutions. With the announcement of Climate Impact X, we are one step closer to enabling companies' net-zero goals.

gradient-quote Trading of carbon offsets can be an important instrument for companies to limit the impact of their greenhouse gas emission as part of a net-zero target. It should not be misused to allow the continued use of legacy technologies (such as coal-powered generation). Rather, it should be a short-term transitionary lever on a transformative path to net-zero emissions, or to offset residual emissions that are impossible to eliminate within a certain timeframe. High quality carbon offsets are key in channeling investment into critical nature-based solution (including preservation, restoration, and regeneration of forests, wetlands, and more) which put people at the heart of climate solutions for generations to come. gradient-quote-right
Malavika Bambawale, Managing Director Sustainability Solutions - APAC

View Full Article on Business Times