Singapore's transition credits aim to defuse Asia's coal climate risks

The Monetary Authority of Singapore wants the credits to help with the retirement of coal plants, which account for 60% of energy supply in the region, and replace them with cleaner sources.

Asian businesses account for a significant 51% of global emissions showing their pivotal role in advancing efforts to mitigate climate change. In order to address the climate crisis in Asia, the Asian Development Bank (ADB) has estimated that investments averaging approximately $1.7 trillion annually until 2030 are required.

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