Carbon Pricing Act, 2018 (Singapore)

The Carbon Pricing Act establishes a carbon tax, incentivizing emission reductions and supporting the transition to a low-carbon economy. It provides for an obligation to apply as a registered person or as reportable facility and taxable facility. Specifically, where the total amount of reckonable greenhouse gas (GHG) emission of a business facility has a carbon dioxide equivalence that attains the first emission threshold (or higher) while the business facility is under the operational control of a person in any year, then the person must apply for registration to the National Environment Agency. A registered person must submit to the Agency, for the Agency’s approval, emissions reports relating to the GHG emissions of every business facility that is a reportable facility of the registered person. A tax, called the carbon tax, is charged on the total amount of reckonable GHG emission of a taxable facility under a registered person in a given reporting period, as is set out in an emissions report or the part of an emissions report for the reporting period that is verified and approved by the Agency, respectively.