#Author:Er Soka Samanth kumar, Mechanical Engieering NIT Sikkim India https://nitsikkim.ac.in
The Minister reiterated Singapore’s strong commitment towards tackling climate change and has raised our ambition of achieving net zero by or around 2050, earlier than previously committed. Against the backdrop of Singapore’s inherent limitations in decarbonisation, this is made possible by the Government’s close monitoring of science and technology developments, and the shift in mindsets globally towards ensuring a sustainable future. Singapore first implemented the carbon tax on 1 January 2019. It is currently applicable on facilities that directly emit at least 25,000 tCO2e of greenhouse gas (GHG) emissions 1 annually. This covers about 80% of total GHG emissions in Singapore from about 50 facilities primarily in the manufacturing, power, waste, and water sectors.The carbon tax is imposed through a fixed-price credits-based mechanism – this means taxable facilities will have to pay the tax by purchasing credits issued by the National Environment Agency and surrendering the number of carbon credits corresponding to their emissions.
