Speaking at Pan Pacific Singapore, Lee raises the example of Singapore’s carbon tax rate hike, unveiled at Budget 2022. The carbon tax was raised to $25/tonne of carbon dioxide equivalent (tCO2e) on Jan 1, and it will be raised again to $45/tCO2e in 2026 and 2027, eventually reaching between $50 and $80 per tCO2e by 2030.
The Singapore government has three big roles in helping companies — particularly small- and medium-sized enterprises (SMEs) — decarbonise their operations, says Lee Chuan Teck, chairman of Enterprise Singapore.
It starts with providing the “right macro-environment” to “incentivise the right behaviour”, says Lee at the UOB Sustainability Compass Forum on July 2.
