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Singapore government to issue $35 bil in green bonds by 2030, raise carbon tax in stages

Jovi Ho
Jovi Ho2/18/2022 05:05 PM GMT+08  • 5 min read
Singapore government to issue $35 bil in green bonds by 2030, raise carbon tax in stages
Singapore will raise its carbon tax rate in stages until 2030, growing up to 16 times its current rate.
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The Singapore government plans to issue up to $35 billion in green bonds by 2030 to fund public sector green infrastructure projects. This will come from both the government and statutory boards.

In addition, Singapore will raise its carbon tax rate in stages from now till 2030, growing up to 16 times the current rate of $5 per tonne of carbon dioxide equivalent (tCO2e).

The rate will rise to $25/tCO2e in 2024 and 2025, before hiking further to $45/tCO2e in 2026 and 2027.

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