What else to watch out for on Singapore's climate agenda

Carbon tax review: Singapore will announce a revised carbon tax rate for 2024 in its budget next year. Singapore was the first South-east Asian nation to introduce a carbon levy in 2019, but the current rate of S$5 per tonne of carbon dioxide is far lower than most jurisdictions.

For perspective, the Organisation for Economic Co-operation and Development estimates that 120 euros per tonne is the tax required to decarbonise by mid-century.

Development as a carbon trading hub: Singapore has proclaimed aspirations to become a carbon trading hub for Asia, but whether the trading of carbon offsets correlates with real emission reductions is worth watching.