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The Singaporean government estimates that the 2024 carbon tax will generate SGD 640 million (about USD 497 million), more than 30% below the original projection.

On 28 April, Canadians will go to the polls to vote for the next prime minister. The election comes after Justin Trudeau stepped down as leader of the Liberal Party of Canada in January following nine years leading the party as prime minister.

The International Maritime Organization’s Marine Environment Protection Committee (MEPC) kicked off a five-day meeting on April 7, focusing on technical regulations, energy efficiency, and pollution in the shipping industry.

Malaysia’s Sarawak has recently called for the establishment of a unified carbon market across ASEAN to boost carbon credit prices and address climate challenges.

To increase public awareness of the carbon tax, the Thai government has teamed up with Chulalongkorn University and two major oil companies.

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.