Carbon Pricing Act 2018 (2020 Revised Edition)

Laws and Policies

CCLW

CCLW national policies

Budget 2018

Carbon Pricing Amendment Act 2022 

Budget 2022 amending tax rates

Law passed

Budget passed

Amendment Act Approved 

Amendment Act Entered into Force 

This law requires the reporting of and the payment of a tax in relation to greenhouse gas emissions, and amends the <a href="https://climate-laws.org/cclow/geographies/singapore/laws/energy-conservation-act-chapter-92c" target="_self">Energy Conservation Act</a>. The 2018 budget law stipulated that Singapore will impose a carbon tax entering into force in 2019. All facilities producing 25,000 tonnes or more of greenhouse gas emissions in a year will have to pay a carbon tax. The carbon tax will initially be S$5 per tonne of greenhouse gas emissions from 2019 to 2023. The Government will review the carbon tax rate by 2023, with plans to increase it to between S$10 and S$15 per tonne of emissions by 2030. The the 2022 budget, presented by the government in March 2022, considerably hikes these figures. The tax should be put at S$25 in 2024 and 2025, and S$45 in 2026 and 2027. The 2030 target now stands at between S$50 and S$80.
This Act was amended in 2022. The Carbon Pricing Amendment t Act introduces a progressive increase in carbon tax rates, sets up an International Carbon Credits (ICC) framework, and implements an industry transition framework allowing Emission-Intensive Trade-Exposed (EITE) sectors to receive transitory allowances. It further revises the list of greenhouse gases (GHG).&nbsp;&nbsp;

Carbon Pricing Act no 23/2018

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An aim to achieve a quantifiable outcome within a given time-frame, set by an institution such as a national government.

Policy instruments are techniques or tools used by governing authorities to promote certain policies in order to achieve predetermined goals. Put simply, instruments are how a government tries to achieve its goals, with this taxonomy being focused on national policy instruments.

Risk is the potential for adverse consequences resulting from the dynamic interplay between (climate-related) hazards, exposure, and vulnerability of affected human or ecological systems.

Groups  of people who are adversely affected by climate change or the response to it

A set of principles, processes, and practices that build economic and political power to shift from an extractive economy to a regenerative economy.

Renewable energy means all forms of energy produced from renewable sources in a sustainable manner.

Fossil fuel is a generic term for non-renewable energy sources such as coal, fossil gas, and oil (including crude oil, and petroleum products), that can be used for electricity and heat generation. Fossil fuels are hydrocarbons formed from pressurised and heated organic material buried over millions of years.

Molecules in the atmosphere that play a key role in the greenhouse effect by trapping heat radiating from Earth’s surface.

Area of the economy in which actors engage in identical or related activities.

In human systems, the process of adjustment to actual or expected climate change and its effects, in order to moderate harm, increase resilience or exploit beneficial opportunities. In natural systems, the process of adjustment to actual climate change and its effects; human intervention may facilitate adjustment to expected climate change and its effects.

The management and allocation of funds, assets and investments to meet various objectives

This sector involves the wholesale and retail selling of goods.

Any compulsory, unrequited payment to the government levied on corporations or individuals. This can be for environmental reasons, such as introducing a Carbon tax to set a price that emitters must pay for the greenhouse gases they emit.

A subsidy is a direct or indirect payment to individuals or businesses, typically provided as a government cash payment or a specific tax reduction.

Social and cultural groups that share collective ancestral ties to the lands and natural resources where they live, occupy or from which they have been displaced

People with different national or cultural traditions from the dominant population

Aligning the skills of the workforce with the requirements of the just transition.

This sector includes firms and individuals offering specialised expertise in fields such as law, accounting, consulting, science and engineering.

Direct investments by the governments using public funds. This can be to support climate initiatives or integrate climate into other projects.

A tax advantage is an economic benefit applied to certain accounts or investments that are, by law, tax-reduced, tax-deferred, or tax-free. This can apply to investments in areas such as green energy projects or the agricultural sector, where tax advantages can help manage financial risks.

Activities of businesses and institutions that provide financial services and products to individuals and organisations.

The activities of industries that transforms raw materials into finished goods through industrial processes.

Actions to adapt human health, healthcare systems and well-being to climate change.

Activities involving the management, development, and sale of property assets.

Activities that provide lodging, food, and entertainment services to guests, including hotels, restaurants, and resorts.

This sector creates and distributes information and entertainment through television, radio, print, and digital platforms.

Financial support to help individuals manage the effects of unexpected events, securing their livelihoods and increasing the resilience of people and businesses to the changing climate. It’s especially vital in developing regions where everyday risks, climate-related weather extremes, or crop failures can push people into poverty. Without insurance, people may have to resort to selling assets or cutting consumption to cope with losses.

Work that is productive and delivers a fair income, security in the workplace and social protection for all, better prospects for personal development and social integration, freedom for people to express their concerns, organize and participate in the decisions that affect their lives and equality of opportunity.

Oil is a combustible liquid fossil fuel composed mainly of hydrocarbons, occurring as crude oil and refined into petroleum products such as petrol, diesel and kerosene.

Actions and measures to adapt and increase resilience of societies and the economy to climate change.

Actions or measures to adapt freshwater systems to climate change.

The release of heat-trapping gases, primarily from human activities such as burning fossil fuels, agriculture and industry.

A financial institution that manages a country's currency and can promote climate-related initiatives through green monetary policy and other means.

This sector involves managing waste treatment, sanitation, pollution control and environmental cleanup.

Risks to the ecosystem health of the marine environment, including ocean warming, ocean acidification, and ocean deoxygenation, harming biodiversity, species health, ecosystem services, and coastal community livelihoods.

Slow onset events evolve gradually from incremental changes over many years or from increased frequency or intensity of recurring events. As defined in the Cancun Adaptation Framework (2010), slow onset events include risks and impacts from rising temperatures, desertification, biodiversity loss, land and forest degradation, glacial retreat, ocean acidification, sea level rise, and salinization.

Social protection systems consist of policies that help people manage social risks in order to prevent poverty and maintain decent incomes and living standards

Activities that involve planning, designing and building infrastructure, residential, and commercial structures.

This sector involves the distribution, treatment, and conservation of water resources.

A financial entity operated or controlled by the state, often with a mandate for social or economic development.

Compulsory, required payments to the government that are levied more-or-less in proportion to the services provided. Fees and charges range from entrance fees to national parks, charges on land-based sewage discharge.

This sector provides communication services, software development, and IT solutions.

Actions or measures to adapt freshwater, coastal and marine systems to climate change.

People whose health, both mental and physical, makes them more vulnerable to the effects of climate change

Activities of government agencies and institutions that provide public services, enforce laws and manage public resources.

This sector involves activities that impart knowledge and skills to individuals, including formal schooling, vocational training and educational support.

This sector involves activities to move goods and people, alongside the storage of products.

Social inclusion is the process of improving the terms on which individuals and groups take part in society—improving the ability, opportunity, and dignity of those disadvantaged on the basis of their identity.

Extreme weather refers to events where a weather variable exceeds (or falls below) a threshold. Meaning it is significantly different from the average or usual weather pattern.

Fossil gas, commonly known as natural gas, is a fossil fuel consisting chiefly of methane with smaller amounts of other hydrocarbons and trace gases, found in underground deposits.

A long-lived, colourless gas, chiefly emitted from fossil fuel combustion, deforestation and cement production.

Tradable permits are market-based tools that grant permission for specific activities, frequently used to regulate emissions. These permits can be issued within a trading system to manage environmental impacts.

A potent, short-lived greehouse gas, largely released from livestock, fossil fuel extraction and waste management.