Big Tech drawn to new Singapore carbon offset trading market

  • 📰 staronline
  • ⏱ Reading Time:
  • 44 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 21%
  • Publisher: 75%

Business News News

Business Business Latest News,Business Business Headlines

Tech giants are looking to Singapore's carbon offset trading platform to achieve their ambitions of being carbon neutral.

Some of the world’s largest tech corporations – from Google to Microsoft Corp and Amazon – are in talks with a new carbon offset trading platform in Singapore that would be among the first to be backed by a public stock exchange.

An Amazon.com Inc spokesperson said the firm supports the sustainability efforts of customers such as Singapore bank DBS Group Holdings Ltd, which is also backing Climate Impact X. Amazon has no plans to purchase offsets in the region at the moment. Microsoft and Google declined to comment.Singapore-based Grab said the company supports carbon offset programmes that reduce emissions and provide economic uplift to communities.

Climate experts have warned that validating cheap offsets that don’t actually remove carbon dioxide could give companies a way to claim they’re carbon free without undertaking costly work to reduce planet-warming emissions – resulting in greater pollution overall. Even respected environmental groups like the Nature Conservancy have come under fire for selling offsets that protect forests no longer in danger of being torn down.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Qasim’s dream of 2005, a big comet on its trajectory to the Sun will go past earth, and disrupt the axial balance of the moon and earth. The world will be in complete darkness. Qasim has seen many events for the future of Mankind, many are coming true.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 4. in BUSİNESS

Business Business Latest News, Business Business Headlines