A bill to introduce carbon tax in Singapore was passed in Parliament on Tues. The Carbon Pricing Bill sets out a framework for implementing the carbon tax, including the measurement, reporting and verification requirements. These large emitters will be charged S$5 per tonne of greenhouse gas emissions from 2019. The tax rate will be reviewed by 2023, with the intention of increasing it to between S$10 and S$15 per tonne by 2030. Eight parliamentarians spoke on the bill, raising points ranging from the impact of the carbon tax on households, supporting businesses in the change and the impact of the tax on Singapore’s intl competitiveness. MP for Nee Soon GRC Lee Bee Wah noted that with the carbon tax rate of S$5 per tonne, the impact is expected to be small. But she added that there are still concerns about the impact on households.... Continue Reading