Low Yen Ling on Carbon Pricing (Amendment) Bill

The transition framework under Singapore’s carbon tax regime provides eligible companies a transitory allowance for a portion of their emissions, but this does not give them “a free pass”, said Minister of State for Trade and Industry Low Yen Ling. Ms Low said Singapore is accountable to its international climate commitments and will ensure that the transition framework will “robustly drive” companies to decarbonise. The allowances will be reviewed regularly and aggregated information on the amount of allowances provided will be released “when appropriate”. The period of transition offered to companies in the emissions-intensive trade-exposed sectors will be calibrated based on international standards and technological developments in decarbonisation techniques. Ms Low was responding to concerns raised by members of the House during the debate on the Carbon Pricing (Amendment) Bill in Parliament on Tuesday (Nov 8). She also spoke about the support being given to industries and companies to transition to a low-carbon economy.