Eco-labels (or environmental labels) guide consumers to choose products and services that cause less damage to the environment when compared with other similar products or services on the market.
You may have noticed some manufacturers making 'green' claims by stating that their products are 'eco-friendly', 'recyclable', or 'degradable'. In contrast, an eco-label is awarded for specific goods or services by an impartial third-party based on environmental performance criteria established by labelling organisations.
In addition to the pro-environmental features of a product or service, most eco-labelling criteria also include performance indicators, because a product or service must first do its intended job before environmental impacts can be considered.
Besides eco-labels, you may also have come across 'fair trade labels'. These are labels that distinguish products or services that are socially acceptable (for instance, food products for which farmers have been paid a fair price and exploitation of labour has not occurred). In many cases, fair trade labels also determine whether the products are more environmentally preferable.
For more information on energy and green labeling in Singapore and around the world, please visit the National Energy Efficiency Committee website on www.neec.gov.sg/energylabel/world.shtm.
The world's local bank 
