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https://doi.org/10.25818/1ce1-sg71
Title: | Putting a Price on Carbon: Hard Targets to Keep Singapore Going | Authors: | Tan Jing Ling Tan Xin Yi |
Keywords: | Carbon price Singapore Environment Sustainable Development |
Issue Date: | May-2022 | Citation: | Tan Jing Ling, Tan Xin Yi (2022-05). Putting a Price on Carbon: Hard Targets to Keep Singapore Going : 1-11. ScholarBank@NUS Repository. https://doi.org/10.25818/1ce1-sg71 | Abstract: | Putting a price on carbon is so crucial to the fight against climate change that it has been dubbed by some as a “silver bullet” in the global push to decarbonisation. Announced in 2017, Singapore’s carbon tax then was the first carbon pricing policy (CPP) in Southeast Asia, hailed as progressive insofar as the region is concerned. Designed to apply to target large emitters of greenhouse gas (GHG) rather than individual users, it serves as a price signal for industries and the nation. Commentators, however, have suggested that the initial price of S$5 per tonne of GHG emissions (to be maintained from 2019 to 2023) is still too low to meet global emissions targets. A parliamentary debate on carbon taxes in January 2022 also brought into question whether proposed increases to S$10-15 per tonne were too conservative given that the average tax rate is at US$65 per tonne for major economies around the world. Some businesses and parliamentarians have also cautioned that this may impact Singapore’s competitiveness. What is the socially and economically optimal carbon price, given Singapore’s constraints and capabilities? | URI: | https://scholarbank.nus.edu.sg/handle/10635/224837 | DOI: | 10.25818/1ce1-sg71 |
Appears in Collections: | Department Publications |
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