Singapore's Carbon Tax Could Increase To $80 Per Tonne Of Emissions By 2030
The carbon tax hike will be done in phases to give businesses more certainty.
The carbon tax rate in Singapore will be increased from the current $5 per tonne of emissions to between $50 and $80 by 2030, a move that will help the nation reach new, more ambitious climate goals.
Singapore's carbon tax applies to all facilities producing 25,000 tonnes or more of greenhouse gas emissions in a year. This covers 30 to 40 large emitters such as oil refineries and power generation plants, which contribute 80 per cent of Singapore's greenhouse gas emissions.