Hoon Hian Teck on Environmental Protection and Management (Amendment) Bill
There is a basis for Government intervention to limit greenhouse gas emissions, but a set of optimal policy tools would include setting regulatory standards as well as the use of carbon taxes, said NMP Hoon Hian Teck in Parliament on Monday (Sep 13). He said compliance costs might differ across and even within industries, so setting a tax on greenhouse gas emissions and letting firms choose the extent to which they want to control emissions would give them leeway to transition to the new standards. Prof Hoon said those policy tools, along with subsidies for research and development in clean technology, would set Singapore up as a leader in sustainable living.
There is a basis for Government intervention to limit greenhouse gas emissions, but a set of optimal policy tools would include setting regulatory standards as well as the use of carbon taxes, said NMP Hoon Hian Teck in Parliament on Monday (Sep 13). He said compliance costs might differ across and even within industries, so setting a tax on greenhouse gas emissions and letting firms choose the extent to which they want to control emissions would give them leeway to transition to the new standards. Prof Hoon said those policy tools, along with subsidies for research and development in clean technology, would set Singapore up as a leader in sustainable living.
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