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Starting this year, Singapore has increased its carbon tax to SGD 25 per ton (about 19 USD) and announced plans for further increases, aiming to encourage companies to accelerate their carbon reduction efforts.

The shipping industry is facing immense pressure to reduce emissions due to underdeveloped decarbonization technologies and tightening carbon tax policies. Major players like Maersk and Taiwan’s top shipping companies—Evergreen, Wan Hai, and Yang Ming—are

A charge on emissions for cargo vessels would become the first global carbon price, but disagreements on system design and starting prices remain.

Following Singapore, Thailand will become the second ASEAN country to implement a carbon tax ahead of CBAM. Thailand plans to levy carbon taxes in 2025, aligned with the enactment of the “Global Warming Act”.

Companies in Singapore aiming to offset part of their carbon tax liability will soon be able to purchase carbon credits from projects in Ghana, following an agreement signed between the two countries on May 27.

The Malaysia Carbon Exchange (BCX) will auction its first batch of locally generated carbon credits on July 25. This event marks the expansion of its product offering to include local carbon credits in addition to global carbon credits.

The Philippine government is currently deliberating on how to implement carbon pricing, considering options between a carbon tax or an Emissions Trading System (ETS). The influential Makati Business Club (MBC) has publicly supported the latter and emphasi

Thailand is preparing to join the league of countries implementing a carbon tax. Ministry of Finance revealed that the department has been collaborating with both domestic and international organizations to draft carbon tax regulations.

Singapore’s gas and electricity prices have risen due to the impact of higher carbon tax, goods and services tax (GST) increments, and rising energy costs.

The latest report from Philippine Congress think tank indicates that the Philippines has relatively lower carbon emissions, suggesting that imposing a carbon tax may not be necessary.