SINGAPORE: Energy and power sectors have been identified as one of the main contributors for the release of greenhouse emissions, which contribute to global warming.
Energy, Green Technology and Water Minister Datuk Seri Peter Chin Fah Kui warned that if climate change continues, the world economy and the existence of mankind would be in peril.
“Concrete action must be taken to contain global warming,” he said in his keynote address at the Singapore International Energy Week here yesterday.
Chin said that building power plants was not a sustainable solution to the world's energy needs, adding that countries should move towards renewable energy sources for power generation.
He said Malaysia had observed and studied the experiences of countries involved in renewable energy such as in having solid regulatory framework, attractive tariffs and incentives.
In explaining the local feed-in tariff (FiT) scheme, he added that it was designed to reward individuals, businesses and communities investing in renewable energy.
Chin added that private sector participation was important to boost renewable energy output from the current 0.5% to 11% by 2020.
Source: The Star Online
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