Singapore aims to be a key player in trading unused greenhouse gas quotas, estimated to be worth at least US$25 billion last year.

Under the Kyoto international agreement to reduce harmful emissions by 2012, some countries can buy extra greenhouse gas allowances from developing countries under a scheme called Clean Development Mechanism credits, or CDM.

CDM represents an economic opportunity for Singapore. The Government plans not just to play a part in the market, but take a central role in carbon trading as well. It can become a hub for the CDM projects.

Some of the short-term measures that are under consideration are now mandatory fuel economy labelling on vehicles and energy labelling for air conditioners and refrigerators. - TODAY