Singapore Must Raise Carbon Tax Faster, Central Bank Chief Says

Singapore’s low carbon tax makes it an “outlier” and the city-state needs to boost the levy at a faster rate to meet its commitments to climate change, the head of the central bank said Wednesday.

The original plan to gradually raise the tax to S$10-$15 a ton by 2030 may no longer be a sufficient impetus for emissions reduction and a successful restructuring to a greener economy, Ravi Menon said in a speech to the Institute of Policy Studies at the Lee Kuan Yew School of Public Policy in Singapore.