Million-dollar challenge launched in Singapore for solutions to combat climate change
SINGAPORE, Jan. 10 (Xinhua) -- In the race to combat climate change, a global call for innovative clean energy and circular economy solutions kicked off here Thursday, with a total funding of up to 1 million Singapore dollars (about 750,000 U.S. dollars).
The second edition of the Liveability Challenge hopes to connect these firms with investors and industry leaders to realize sustainable solutions for tropical cities, whose urban residents may be among the most vulnerable to the effects of climate change.
The challenge is presented by the local Temasek Foundation Ecosperity and organized by sustainability-focused news site Eco-Business. Submissions will be accepted from Jan. 10 to April 5.
Shortlisted finalists will get to pitch their projects to a panel of venture capitalists and investors at the finale during the Ecosperity Week in June this year.
According to a newly-released report by the Intergovernmental Panel on Climate Change (IPCC), the world only has 12 years to cut down its carbon emissions and keep global warming below 1.5 degrees Celcius, or face the risk of an irreversible climate crisis.
This year's challenge is supported by 28 partners from business, civil society and government - almost double the number from the 2018 inaugural edition.