S1E72: Significance of Singapore’s new carbon price: Green Pulse

Synopsis: The Straits Times analyses the beat of the changing environment, from biodiversity conservation to climate change. Singapore’s new carbon tax rate for 2024 and beyond was announced by Finance Minister Lawrence Wong during the Budget on Feb 18. The aim is for emissions to dwindle to net zero by or around 2050. The carbon tax hike will be done in phases to give businesses more certainty, the Government said. The current rate of $5 per tonne of emissions will be in place until 2023. It will go up to $25 in 2024 and 2025, and $45 in 2026 and 2027, before reaching $50 to $80 per tonne by 2030. How will this help Singapore achieve its climate targets? ST environment correspondent Audrey Tan and climate change editor David Fogarty discuss this carbon tax hike with OCBC Bank economist Howie Lee. Highlights (click/tap above): 01:22 Why observers were surprised by Singapore's new carbon price 02:39 How does Singapore's carbon price compare with the rest of Asia Pacific 03:12 How a carbon price helps to reduce emissions 06:50 What will the impact of a carbon tax on consumers be? 08:34 The link between the carbon tax, and the global carbon market Read Budget 2022: Singapore's carbon tax could increase to $80 per tonne of emissions by 2030: https://str.sg/wsLK Produced by: Audrey Tan ([email protected]), David Fogarty ([email protected]), Ernest Luis, Fa'izah Sani & Teo Tong Kai Edited by: Teo Tong Kai Follow Green Pulse Podcast episodes out here every first and third Monday of the month: Channel: https://str.sg/JWaf Apple Podcasts: https://str.sg/JWaY Spotify: https://str.sg/JWag Google Podcasts: https://str.sg/J6EV  SPH Awedio app: https://www.awedio.sg/ Website: http://str.sg/stpodcasts Feedback to: [email protected] Follow Audrey Tan on Twitter: https://str.sg/JLMB Read her stories: https://str.sg/JLM2 Follow David Fogarty on Twitter: https://str.sg/JLM6 Read his stories: https://str.sg/JLMu --- Discover more ST podcast series: Asian Insider Podcasts: https://str.sg/JWa7 Health Check Podcast: https://str.sg/JWaN ST Sports Talk Podcast: https://str.sg/JWRE #PopVultures Podcast: https://str.sg/JWad Bookmark This! Podcast: https://str.sg/JWas Lunch With Sumiko Podcast: https://str.sg/J6hQ Discover BT Podcasts: http://bt.sg/podcasts Follow our shows then, if you like short, practical podcasts!See omnystudio.com/listener for privacy information.