Ms He Ting Ru asked the Deputy Prime Minister and Minister for Trade and Industry (a) how many firms have been granted allowances for carbon tax in 2023, 2024 and 2025 respectively; (b) what is the average proportion of emissions covered by allowances in each of the three time periods; and (c) what is the expected impact of the allowances granted on Singapore’s emissions profile.
Mr Gan Kim Yong: No allowances were provided for 2023. More than 20 companies from the Emissions-Intensive Trade-Exposed (EITE) sectors have been notified of their eligibility to receive allowances for their carbon tax assessments from 2024. We will continue to monitor and review if other companies are eligible.
MTI will release aggregated information on the amount of allowances at an appropriate time and will do so in a manner that does not undermine the competitive position of our Singapore-based manufacturers.
Carbon tax allowances are part of a portfolio of tools to help our economy make the transition towards our ambition of net-zero emissions by 2050. They will help the affected companies to transform their operations and adopt solutions to reduce their carbon emissions and meet our emissions targets in the coming years.
Ministry of Trade and Industry
2 July 2024
https://sprs.parl.gov.sg/search/#/sprs3topic?reportid=written-answer-16750
Office of the Leader of the Opposition 