Forum: Cheap talk will not save the environment
I refer to the article “
- by autobot
- April 9, 2023
- Source article
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I refer to the article “ ” (Feb 10), in which more than 60 per cent of Singaporeans listed climate change as their biggest problem. While it is great that the majority of Singaporeans are concerned about climate change, not many are acting on their concerns. How many of them are actually buying goods and services from environmentally friendly suppliers? Not many, according to findings by the OCBC Climate Index, which found that Singaporeans adopt climate action largely when it is affordable and easy for them to do so. For example, about 80 per cent know that one plastic bag takes 500 years to degrade, but the majority do not take along reusable bags whenever they go shopping. The Government already gives a lot of funding and subsidies to environmentally friendly producers and companies. This will entice producers to shift their production towards desirable sustainable goods or increase the supply of such goods at lower prices, resulting in a higher marginal benefit for society while also reducing marginal cost for suppliers. The Government’s efforts in incentivising companies to produce environmentally sustainable products would hopefully encourage Singaporeans to engage in green practices that will expedite the achievement of Singapore’s goal to have net-zero carbon emissions by 2050.