Asia Pacific > Singapore announces large hikes in carbon tax rate, adds partial offset option

Singapore announces large hikes in carbon tax rate, adds partial offset option

Published 10:25 on February 18, 2022  /  Last updated at 03:15 on February 21, 2022  /  Asia Pacific, Carbon Taxes, Climate Talks, Other APAC, Voluntary  /  No Comments

Singapore will raise its carbon tax to reach as high S$80 ($60) per tonne of CO2 by the end of the decade and will commit to net zero emissions by “around mid-century”, the island state’s finance minister announced Friday while delivering the government’s 2022 budget, adding that emitters will be allowed to use international offsets towards a share of their obligations.

Singapore will raise its carbon tax to reach as high S$80 ($60) per tonne of CO2 by the end of the decade and will commit to net zero emissions by “around mid-century”, the island state’s finance minister announced Friday while delivering the government’s 2022 budget, adding that emitters will be allowed to use international offsets towards a share of their obligations.

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