Louis Chua on Carbon Pricing (Amendment) Bill

The Carbon Pricing (Amendment) Bill is a "step in the right direction" towards decarbonising Singapore's economy, said MP Louis Chua. Speaking in Parliament on Tuesday (Nov 8), he said these changes are all the more significant in light of COP27 as nations around the world tackle the existential threat of climate change. Mr Chua said Singapore needs to set a bold, ambitious and specific emissions reduction target that aligns with the global goal of reaching net-zero by 2050. Singapore should be the "bright green spark" and show the world that despite its constraints, it can and must strive to do more. Mr Chua voiced support for the more ambitious carbon tax pricing but said compared with international benchmarks, there is room to do more. He warned against giving out a "free meal" to polluters, saying the introduction of allowances goes against the spirit of the Government's previous commitment to apply the carbon tax uniformly to all sectors. He urged the Government to publicly disclose which facilities are receiving allowances and for which years. He also stressed the need for Singapore's net-zero pathway to be transparent, fair and inclusive. He pointed out that Singaporeans want to participate in meaningful discourse but this can only be achieved if data related to emissions and emitters is made more accessible and available. Mr Chua said clean energy and green finance can be Singapore's next growth sector. He said Singapore needs to change the narrative from risk mitigation and protection to capture and set the stage for future growth.