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Singapore shouldn’t sprint ahead on carbon tax as the world drops off
Moderating the carbon tax climb can help ensure ambition drives innovation, rather than pushing emissions and investment offshore.
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Singapore’s carbon price now sits among the highest in Asia, higher even than those faced by firms in China, South Korea and Japan in effective terms.
ST PHOTO: BRIAN TEO
Musa Fazal
Around the world, governments that once embraced carbon taxes are adjusting pace, scope and support as costs bite.
Canada has paused part of its carbon tax on home-heating fuels. Sweden has eased fuel-related levies despite having one of the world’s highest carbon prices.
