Singapore evaluating when, how best to impose carbon pricing

Singapore

SINGAPORE is set to impose a carbon price as it looks to cut greenhouse emissions to meet its commitments under the Paris Agreement, The Business Times has learnt.

The government is now determining the timeline and what form of carbon pricing to take in the city-state, according to the National Climate Change Secretariat (NCCS).

Various countries around the world have implemented some form of carbon pricing as they seek to reduce emissions in a cost-effective manner. Singapore, too, has been studying this policy option and monitoring such international developments for some time, said NCCS.

"Alongside current measures such as regulations, incentives and capability building, a carbon price can help improve energy efficiency, lower carbon emissions and promote low-carbon technology," said a spokesman in respons…