Somewhere close to $100 million is going to be spent by Maritime and Port Authority of Singapore (MPA) on green shipping. The investment would be done over a period of five years and is part of its initiative to promote cleaner and greener ships.

Name given to the initiative is Maritime Singapore Green Initiative and the main aim of the same is to reduce carbon footprints caused by the ships. There are said to be causing 3 per cent of all the CO2 emissions around the world.

The information was given by Raymond Lim, Minister for Transport and Second Minister for Foreign Affairs, at the Singapore International Maritime Awards 2011. These were held in the Shangri-La hotel at that place.

In the event, some 12 key shipping organisations took part and also present on the occasion was Deputy Prime Minister and Minister for Defence Teo Chee Hean. He pointed out that some 80 per cent of the top 10 ports of the world are situated in Asia alone.

And since majority of stakeholders’ concentration is in the place, Asia has got a bigger duty to play when it comes to keeping the environment clean.