MORE than two-thirds of Southeast Asians support a national carbon tax, according to the Southeast Asia Climate Outlook 2024.
Among Southeast Asian nations, Singapore was the first to implement a carbon tax, beginning in 2019. This tax targets facilities in the energy, manufacturing, waste and water sectors that emit at least 25,000 tons of CO2 equivalent (tCO2e) annually. Singapore adopted a phased approach to increasing carbon prices, starting at SG$5 per tCO2e in 2019. The price has now risen to SG$25 in 2024, with plans for further increases to SG$45 by 2027 and up to SG$80 by 2030.
