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Realising Singapore's ambitions to become the Little Green Dot

As announced by Finance Minister Lawrence Wong on Feb 18, "Budget 2022" further underscored Singapore's commitment to tackling climate change.

Citing advances in technology and opportunities for international collaboration as enablers, Wong spelt out Singapore's ambition to achieve net zero emissions by or around mid-century, a marked acceleration from the initial Long-Term Low-Emissions Development Strategy to do so "as soon as viable in the second half of the century".

To achieve this hastened net zero timeline, the government announced an increase in carbon taxes which was previously kept low at S$5 per tonne of emissions.

Taking a phased approach, the rate is set to rise to S$50-80 by 2030,...

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