The carbon tax is an important step to sustain our clean, green and liveable environment, and to help Singapore transform into a low-carbon economy.
Singapore is the first country in Southeast Asia to put a price on carbon.
Our carbon tax came into force in 2019, without exemptions for any industry or sector. The carbon tax sends a crucial price signal to reduce emissions. The tax is not raised for fiscal purposes and we are prepared to spend more than the estimated $1 billion in carbon tax revenues collected in the initial years, to incentivise and support companies in their transition towards green, carbon-efficient technologies.