Low-carbon fuels could be part of APAC’s decarbonization efforts

October 27, 2021 Maritime Safety News

Low-carbon fuels could play an important role in Asia Pacific’s long-term decarbonization efforts, according to Wood Mackenzie.

On 25 October 2021, Singapore’s Minister for Trade and Industry Gan Kim Yong revealed that the country plans to import around 30 per cent of its electricity from low-carbon sources by 2035.

decarbonization
Photo: Illustration. Image Courtesy: MPA/Facebook

In response to the announcement, Wood Mackenzie senior analyst Maria Yee said:

“This is good news for the domestic market.”

“Asia Pacific is the largest emitting region responsible for over half of the world’s carbon emissions. The region’s decarbonisation efforts will determine the pace in which the world is able to achieve the Paris Agreement goals, and Singapore can become a leader in this movement.”

 

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Low-carbon fuels could be part of APAC’s decarbonization efforts