Singapore to impose carbon tax from 2019
Singapore said Monday it would impose a carbon tax from next year to cut its greenhouse gas emissions and make companies more competitive as global agreements on climate change take effect.
Finance Minister Heng Swee Keat said the tax would be levied on all facilities producing 25,000 tonnes or more of greenhouse gas emissions a year.
The tax, to be applied to all sectors, will be Sg$5.0 ($3.8) per tonne of greenhouse gas emissions from 2019 to 2023, after which the levy will be reviewed and possibly raised to between Sg$10 and Sg$15 per tonne by 2030.
"Singapore produces less carbon emissions per dollar of GDP than most countries," he said, as he unveiled the measure as part of the city-state's 2018 budget.
