"It's not easy to do, it's politically sensitive, but there is no pathway to net zero without pricing carbon properly," he told leaders of Apec's 21 economies.
"This will send a clear market signal to producers and consumers away from carbon-intensive activities."
Speaking at the Apec Economic Leaders' Retreat on Nov 16, PM Wong said putting a price on carbon makes cooperation on carbon markets more possible.
Carbon trading allows countries to reduce emissions even if they are disadvantaged in terms of alternative energy, and spurs climate action in most, he noted.
"So it's really a manifestation of win-win trade," PM Wong added.
He said Singapore has concluded a network of memorandums of understanding and agreements on carbon market collaboration, and hopes to do more with Apec economies.
In addition to carbon markets, PM Wong also spoke of unlocking and harnessing more sources of low-carbon power.
This is critical because many new digital technologies are "energy guzzlers", he said.
Denne historien er fra November 18, 2024-utgaven av The Straits Times.
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Denne historien er fra November 18, 2024-utgaven av The Straits Times.
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South Korea's defence ministry denies preferential treatment for BTS' V
South Korea's Ministry of National Defence has refuted claims that V, a member of K-pop boy band BTS, received preferential treatment while serving in the military.
K-actor Jung Woo-sung admits to fathering model Moon Ga-bi's child
South Korean actor Jung Woo-sung, 51, admitted on Nov 24 that he is the father of South Korean model Moon Ga-bi's child.
Chuck Woolery was the first host of Wheel Of Fortune
Chuck Woolery (right), the affable host of Love Connection, Wheel Of Fortune and other television game shows in the United States, who later criticized liberal values and the US Democratic Party as the co-host of a popular right-wing podcast, died on Nov 23 at his home in Texas. He was 83.
Sole Singaporean contestant Yang Yan eliminated
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Spotlight on two female-directed movies in India
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For diamond shoppers, yet another choice to make – natural or man-made?
With Thanksgiving marking the unofficial start of engagement season - late November through Valentine's Day is when marriage proposals are common - ring buying is top of mind for many couples considering marriage.
Culture and cuisine in Hanoi
Visit the Vietnamese capital's Opera House and sample offerings from Michelin-starred chefs in Senses of Capella
BUDGET TIPS FOR FAMILY TRIPS
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How the late Arthur Frommer inspired travellers to 'just do it'
In the 1980s, when I planned my first trip to Europe, I cannot remember which Frommer's travel guidebook I took along.
Tension, pressure, nerve, genius: At the chess c'ship, the wait is worth it
For all the flow of action, all sport involves varied acts of waiting. We wait for the goal in football, the shooter to fire between heartbeats, a snarling Rafael Nadal to uppercut the air in delight.
