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Establishing an Emissions Trading Scheme in Singapore Volume 7, No. 2 Jolene Lim The need to address climate change is urgent but it must be balanced against the goals of economic growth and maintaining competitiveness in the global economy. This article argues that emissions trading manages to strike this balance. Further, emissions trading seeks to reduce greenhouse gas emissions at the lowest cost to society and conditions in Singapore are ideal for its successful employment. These include the presence of reliable legal recourse; the environmental agencys genuine monitoring and enforcement capabilities; and sufficient businesses with different abatement costs to justify the creation of an emissions trading market. This article also examines the existing carbon and energy efficiency programs in Singapore to provide a more complete picture of the policies that would complement an emissions trading scheme. |