Singapore was already one of the top eight global financial hubs before the world financial and economic crisis of 2008, and has now overtaken Paris and Tokyo (Global Financial Centres Index 32). Strengthening Singapore’s role as a green finance hub was essential to accomplishing this.
The majority of the world is only familiar with the Belt and Road Initiative (BRI) in the "traditional" sense, with its economic, trade and financial aspects. However, the BRI has become more than that, as the so-called Green Silk Road is being developed alongside the well-known trade pillar of the initiative, with a special focus on renewable energy sources.
China has become the world's largest bilateral creditor over the past decade. The New Silk Road loans are viewed controversially: some see them as an unparalleled breakthrough for developing countries, others fear that they give Beijing too much leverage over its debtors.
Melting glaciers and increased precipitation lead to decline in salinity, which encourages biodiversity and lowers risk of harmful algae blooms. The trend could also help supply more drinking water to the region, researcher says.
Faced with the existential threat of climate change, the Indian government has come out with a list of 30 critical minerals that are central to its ongoing efforts to pivot away from a fossil fuel-intensive energy mix, The Straits Times reported this week.