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News Singaporean parliament enacts tightened carbon credit scheme

Singaporean parliament enacts tightened carbon credit scheme

Written by Global Cement staff 17 November 2022
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Singapore: Parliament passed the Carbon Pricing (Amendment) Bill earlier in November 2022. Under the act, Singapore will raise the price of carbon credits to US$18.17/t from 2024, and to US$32.71/t from 2026. CNA News has reported that the government said that the new legislation will provide the basis for the realisation of carbon credit prices of over US$36.31/t by 2030, in line with the country's 2050 net zero CO2 emissions commitment.

Polluters which emit over 25,000t/yr of CO2 currently pay US$3.65/t for carbon credits.

Last modified on 23 November 2022
Published in Global Cement News
Tagged under
  • Singapore
  • Pollution
  • CO2
  • Emissions
  • costs
  • carbon capture
  • CCS
  • net zero
  • target
  • GCW584
  • CCUS
  • decarbonisation
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