Carbon pricing - gaining steam

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Report summary

On 20 February 2017, Singapore became the first Southeast Asian nation to announce that it will impose a tax on carbon, starting in 2019 – and the first country globally to announce adoption of a carbon price scheme since the Paris Agreement came into effect in November 2016. Singapore represents the latest in a growing trend. Thirty-six countries currently impose a price on carbon, through either direct taxation or emissions trading schemes. Three other countries, including China, the world's largest emitter, have announced plans to introduce a price on carbon in the next two years. A further 84 have indicated the intention to use carbon pricing to achieve their emissions targets under the Paris Agreement – or at least a willingness to consider its use. Certainly, there will be individual setbacks to wider adoption of carbon pricing in the years ahead, but with sub-national actors and businesses also expressing support for carbon pricing, this trend is only likely to accelerate.

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    WM Energy Markets Singapore (2).xls

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Table of contents

  • Singapore latest in an accelerating trend of carbon pricing
  • Critical lever
  • Accelerating trend

Tables and charts

This report includes 4 images and tables including:


  • Singapore energy demand by sector and fuel
  • Carbon pricing - gaining steam: Image 2
  • Carbon pricing status by country and percentage of global emissions
  • Number of countries including price mechanisms in their INDC submissions and ratification status

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