carbon tax

The Singapore Government has confirmed plans to implement a carbon tax from 2019. The tax rate will start at $5 (£2.7) per tonne of greenhouse gas emissions until 2023, following which it will increase to between $10 (£5.4) and $15 (£8) per tonne of emissions by 2030. Announcing the plans as part of the Budget, […]

Singapore plans to impose a carbon tax in the next two years in an effort to reduce greenhouse gas emissions. That means power producers and large carbon emitters will have to pay a tax for each tonne of carbon they release. The government states the carbon price “will generally be applied upstream, for example, on power stations […]

Canada’s Prime Minister Justin Trudeau has said he will impose a “strong” price on carbon. In a Canadian television interview, Mr Trudeau insisted he aims to set a national carbon tax even if provinces try to block the proposal. He added that’s an “essential element” of the Liberal Party’s climate change plan. He went on: […]

Governments around the world raised around $26 billion (£17.9bn) from charging for carbon emissions. That’s an increase of 60% compared to the previous year, according to the World Bank. Its ‘Carbon Pricing Watch 2016’ report stated 40 countries and more than 20 cities, states and regions accounting for a quarter of all greenhouse gas emissions […]

The World Bank has brought together more than 30 developed and developing nations to discuss carbon pricing. Its conference in Zurich this week will address the opportunities and challenges in using carbon pricing to reduce greenhouse gas emissions and build carbon markets. The carbon price is a charge on businesses for producing emissions. The event […]

The energy sector won’t stop using fossil fuels if governments’ policies don’t include taxes on carbon emissions. That’s according to Christopher Knittel, an energy economist at the MIT Sloan School of Management who also said: “If we don’t adopt new policies, we’re not going to be leaving fossil fuels in the ground. “We need both […]

A carbon tax of £20 per tonne on all fuels would have little impact on consumer prices, according to a new study. It found the “modest” UK-wide tax on fuels and production costs across all 106 industries would only increase prices by up to 0.9%, “assuming all costs were passed along supply chains fully”. The […]

Implementing a carbon tax for businesses could be a good solution to tackle climate change. Veolia CEO Antoine Frérot is calling on global leaders to set a corporate carbon levy at the COP21 conference in Paris. He believes “a strong and predictable” carbon price is needed “to make depollution less costly”. Veolia proposes the tax should be […]

New York should have a carbon tax to boost renewable energy, says a leading financial thinktank. The Network for Sustainable Financial Markets, an international non-partisan group of financial experts and academics, has teamed up with the Citizens’ Climate Lobby of New York City to promote the case for a tax throughout New York State. The […]

Chile enacted a tax on carbon emissions on Friday, making it the first South American nation to do so. It’s part of a swathe of tax reforms which kick in gradually over the next four years. At a signing ceremony the President of the Republic, Michelle Bachelet said the whole tax package would mean “we […]