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Singapore's state investor Temasek Holdings plans to divest a 1.85% stake in Singapore Airlines Ltd. (OTC: SINGY) for around
By Reuters Staff
3 Min Read
SINGAPORE, April 21 (Reuters) - The Maritime and Port Authority of Singapore (MPA) announced two initiatives on Wednesday to reduce the shipping industry’s greenhouse gas emissions, including a S$120 million ($90 million) fund for a decarbonisation centre.
“Maritime decarbonisation is a global challenge requiring a collective responsibility from all stakeholders involved,” MPA Chief Executive Quah Ley Hoon said in a statement.
With about 90% of world trade transported by sea, shipping accounts for nearly 3% of the world’s carbon dioxide emissions.
The industry is examining a range of technologies as it tries to meet the International Maritime Organization target of a 50% cut in greenhouse gas emissions from 2008 levels by 2050.
Singapore Launches $90 Million Shipping Decarbonization marinelink.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from marinelink.com Daily Mail and Mail on Sunday newspapers.