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Singapore Environment Head Seeks Clean Energy Investment

Thursday, May 20, 2010

TOKYO (Nikkei)--Andrew Tan, chief executive of Singapore's National Environment Agency, said during a panel discussion here Thursday that Asian countries must invest in clean energy projects to boost the cost-competitiveness of renewable energy.

Asia's energy demand is expected to continue growing amid rising urban populations, but its dependence on such fossil fuels as coal and oil remains high, Tan said, calling for a steady shift to clean energy.

Tan emphasized the need to eliminate subsidies for fossil fuels and to price energy correctly to encourage companies to invest in renewable energy.

Titles of speakers, names of companies, etc., were correct as of the time when the forum was held.