Singapore will impose a ‘carbon tax’ from 2019 to cut its greenhouse gas emissions and make companies more competitive as global agreements on climate change take effect.
Finance minister Heng Swee Keat stated that 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.
Static/Current Takeaways Important for Syndicate Bank PO 2018 Exam-
- Singapore ranks 26th out of 142 countries in terms of emissions per capita based on the latest International Energy Agency data.