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Showing posts with the label climate-pact

Singapore Mulls Bonds, Reserves for $72 Billion Climate Fight

Philip Heijmans and Yongchang Chin Bloomberg 21 Aug 19; Singapore is weighing options including the issuance of government bonds to fund the S$100 billion ($72 billion) it could take to fight rising sea levels over the next century. In the short-term, funding for projects such as a S$400 million upgrade to the city-state�s drainage systems to boost flood resilience will come from ministry-level expenditures, Minister for the Environment and Water Resources Masagos Zulkifli said in an interview on Wednesday. Longer term spending, he said, could require the government to tap its national reserves and issue state bonds. �For those that have to be spent that will benefit future generations, we�re talking about borrowing so that whatever we spend for the future will also be paid for by the future generations,� Masagos told Bloomberg TV�s Haslinda Amin. �S$100 billion is actually a lot of money even if spent over 100 years.� The climate change push was a key prong of Prime Minister Lee Hsi...

NDR 2019: Climate change one of the 'gravest challenges facing mankind', impact on Singapore to worsen, says PM Lee

Matthew Mohan Channel NewsAsia 18 Aug 19; SINGAPORE: Climate change is one of the gravest challenges the human race faces and Singapore is already feeling its impact - which is likely to worsen over the next few decades, said Prime Minister Lee Hsien Loong on Sunday (Aug 18). �Climate change may seem abstract and distant for many of us, but it is one of the gravest challenges facing humankind,� said Mr Lee in his National Day Rally speech. The Earth�s average temperature has increased by 1 degree Celsius compared to pre-industrial times over 100 years ago, pointed out Mr Lee. This is a result of more carbon dioxide pumped into the atmosphere due to of human activity. The gas builds up, traps heat from the sun, causing the planet to warm up. �One degree Celsius doesn�t sound like much, but it is very significant,� Mr Lee said. �Furthermore, temperatures are continuing to rise, faster and faster.� Global warming has resulted in the weather becoming more extreme, added Mr Lee, with droug...

Young activists planning 'green dot' gathering on Sept 21

Audrey Tan Straits Times 12 Aug 19; A "green dot" rally is being planned for next month at Hong Lim Park. About 15 young activists in Singapore are organising a climate action rally on Sept 21, in line with the global youth movement inspired by Swedish teen climate champion Greta Thunberg. Next month's event, the Singapore Climate Rally, will be the first physical one in the Republic since the international movement began in August last year, although there have been other social-media climate campaigns here. A permit for the event has been sought by the young organisers and approved by the National Parks Board, which manages Hong Lim Park - an area designated as Speakers' Corner where public protests are allowed. The organisers are also applying for a police permit. The event will feature speeches, a picnic and a postcard-writing session in which participants will be encouraged to send notes urging stronger climate action to their representatives in Parliament and o...