Singapore eyes carbon tax ramp up to $80 by 2030

The government is raising the crabon tax to $25 per tonne this year.

Singapore is raising the carbon tax to $25 per tonne this year as part of its efforts to combat climate change, with plans of further increase to $50 to $80 by 2030, Senior Minister of State for Sustainability and the Environment Dr. Amy Khor announced on 13 March.

“As a small and alternative energy disadvantaged nation, we have to harness innovation and collaboration to transform our energy supply,” Khor said at the launch of the Centre for Sustainable Medicine.

Additionally, Singapore is forging partnerships with neighboring countries to establish cross-border green energy trade agreements, ensuring a sustainable energy supply for the region.

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The maritime and aviation sectors are also targeted for decarbonization. Singapore is piloting projects for alternative fuels like biofuels, methanol, and ammonia, and promoting Green and Digital Shipping Corridors. 

The city-state also hosts the largest sustainable aviation fuel production facility.