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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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    Carbon pricing - gaining steam

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Table of contents

Tables and charts

This report includes 4 images and tables including:

Images

  • 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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