Debated in Parliament on 18 Feb 2020.
Mr Louis Ng Kok Kwang asked the Minister for the Environment and Water Resources for each year from 2019 to 2023 (a) what does the Ministry project will be the absolute and percentage change in net carbon emissions in each individual year; and (b) what percentage of absolute change in each individual year does the Ministry project will be attributable to the carbon tax rate of $5 per tonne of greenhouse gas (GHG) emissions.
For our 2030 Nationally Determined Contribution (NDC), we have pledged to reduce our emissions intensity (emissions per dollar GDP) by 36% from 2005 levels by 2030, and to stabilise emissions with the aim of peaking around 2030. Given expected growth in economic activity and increased energy demand, Singapore's greenhouse gas emissions are projected to rise over the next few years before stabilising. Short-term year-on-year emissions projections may be affected by a multitude of factors such as unforeseen disruptions, and are thus not a good reflection of the emissions trajectory.
To achieve our 2030 NDC, the Government is putting in place mitigation measures to reduce emissions across all sectors, such as the industry, transport and building sectors, and ensure that Singapore continues to develop in a sustainable manner.
The carbon tax is not standalone. It forms part of our comprehensive suite of mitigation measures. It provides an important economy-wide price signal to spur emissions reduction, while giving companies the flexibility to take action where it makes the most business sense. The Government is prepared to spend more than the expected carbon tax revenue of about $1 billion over the first five years to help companies improve their energy and carbon efficiency. As such, it is more meaningful to monitor the progress and impact of our mitigation package as a whole.
PAPERCUTS