Now that Singapore will be implementing carbon pricing, the first question is whether it would be in the form of a carbon tax or a cap and trade system?
Carbon tax allows price certainty but uncertainty in emissions reduction. Easier to implement and price certainty is good for businesses. But usually tax increase is not favoured politically.
Cap and trade allows more certainty in emissions reduction but price can become volatile. Not easy to implement, need an agency to set up an emissions trading system.
I favour the straightforward carbon tax. Regardless of the type of carbon pricing – either carbon tax or cap and trade, what matters is that it is a well-designed system that can ensure that the necessary emissions reduction is achieved while providing certainty to businesses (in this economic downturn).
The second question is whether business and living costs would go up. I’m not too worried about this because the revenue from carbon pricing can be used to offset cost increases, in the form of reduced business tax, tax credits, household rebates, etc.
The third question is the scope and timeline for implementation of the carbon pricing. I think it would start with big emitters, likely those companies under the Energy Conservation Act, since they are already taking action to reduce emissions. I think carbon pricing would take at least 2 years or earliest 2020 before it kicks in, considering the need for legislation change, consultations, setting up the system, and considering the current economic downturn.
Just my preliminary thoughts, more details on the carbon pricing will be announced by the government soon.
At Green Future Solutions, we do our best to keep track of the green groups and sustainability industry in Singapore through our annual Singapore Green Landscape, which is in its 8th edition this year.
The Singapore Green Landscape 2017 highlights the 13 key government reports that are related to sustainability, and introduces the 50 non-governmental organisations, non-profits and social enterprises; 72 green groups; 15 business associations and groups; 55 green websites and events; 27 government agencies; and 54 institutes and centres in Singapore, which are relevant to the environment.
We hope that this publication is useful for everyone who wish to know more about the state of the environment in Singapore, find and connect with the environmental organisations in Singapore, or explore personal and business opportunities.
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The information listed in this publication is obtained from the web. Whilst every effort has been made to ensure the accuracy of the information, no liability will be accepted by Green Future Solutions for errors that may appear in this publication.
Published on 1 Feb 2017. Copyright © Green Future Solutions Group Pte Ltd. All Rights Reserved.
Most of the large hotels and malls in Singapore have recycling programmes, yet their recycling rates are very low at 7-9% in 2015.
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In an uncertain world where we are bombarded and frustrated daily by multiple environmental, social and political problems, and by Trump’s actions and words, we have to learn to calm our minds and choose our responses.
Learn to calmly understand the issues and their roots rather than symptoms. Don’t be frustrated or angry, instead face them squarely and look for ways to solve the problem or reduce the implications. Don’t get distracted by name-calling or stereotyping your adversaries.
Focus on your inner Circle of Influence – things that you can control and influence. Differentiate that from your outer Circle of Concern, which are things that you are concerned about but that are not within your control or influence. Understand the difference between the two Circles and choose to work on your Circle of Influence first while aiming to enlarge it so that it approaches your Circle of Concern over time.
Calm your mind. Choose your response.
“Between stimulus and response, there is a space. In that space lies our freedom and our power to choose our response. In our response lies our growth and our happiness.” – Stephen R. Covey
Government agencies are conducting more consultations and dialogues with stakeholders and the public, and using the feedback and suggestions in policymaking, sometimes even co-creating solutions together.
This consultative process is better than the top-down approach, though it is getting more difficult as issues become more dynamic and complex, and stakeholders and the public become more diverse and distracted.
The current way of tackling issues can and need to be better refined and improved. Here are 3 recommendations to improve the consultation and co-creation process: Read more