Asia Pacific > Asia > 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 (Asia, Compliance Markets & Taxes), Voluntary (VCM Governance), UN Climate Talks

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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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