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Written reply to PQ on Average Carbon Tax Rates and Impact of Allowances on Reducing Carbon Emissions

Written reply to PQ on Average Carbon Tax Rates and Impact of Allowances on Reducing Carbon Emissions

Question

 

Ms He Ting Ru: To ask the Deputy Prime Minister and Minister for Trade and Industry (a) in each of the last five years, what was the average carbon tax rate paid by taxable facilities; and (b) whether the Ministry can provide an explanation of how allowances provided to defray carbon tax in the last few years has supported reduction in carbon emissions at facilities that benefited from the allowances.

 

Written Answer by Deputy Prime Minister and Minister for Trade and Industry Gan Kim Yong

 

1. We are still finalising the carbon tax collections for emissions year 2024. The average carbon tax rate payable by taxable facilities in each year from 2019 to 2023 was $5 per metric tonne of carbon dioxide.

 

2. The provision of allowances only started in 2024. Companies which receive allowances must submit credible net-zero decarbonisation plans, which the Government reviews and holds them accountable to.

 

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