Proposal for National Emissions Trading Scheme
Ministry of Sustainability and the EnvironmentSpeakers
Summary
This question concerns whether the Ministry will implement a national emissions trading scheme to help Singapore meet its COP21 climate commitments. MP Louis Ng Kok Kwang inquired about using this instrument to fulfill the pledge of reducing emissions intensity by 36% below 2005 levels by 2030. Minister for the Environment and Water Resources Masagos Zulkifli B M M highlighted the government's Climate Action Plan and its core strategy of improving energy efficiency. He noted that while countries like South Korea and China have adopted carbon pricing, Singapore continues to evaluate its own whole-of-government approach. Ultimately, Minister Masagos Zulkifli B M M stated that the Government has not yet made any decision on carbon pricing or emissions trading schemes.
Transcript
24 Mr Louis Ng Kok Kwang asked the Minister for the Environment and Water Resources whether the Ministry will implement a national emissions trading scheme as an instrument for Singapore to meet its COP21 commitments.
Mr Masagos Zulkifli B M M: Climate change is a global problem with wide-ranging implications. Many countries around the world today are already feeling the effects, whether it is record high temperatures, more intense rainfalls or the threat that rising sea levels bring to coastal cities. Although Singapore only contributes less than 0.2% of the world's total greenhouse gas emissions, we are a responsible global citizen and will play our part.
Given this, Singapore had pledged at the 2015 Paris Climate Conference to reduce our emissions intensity by 36% below 2005 levels by 2030 and to stabilise our emissions with the aim of peaking around 2030. These are ambitious targets which the Government alone cannot achieve. We would require the collective effort and action of every individual, community and business to make greener lifestyle choices and reduce their energy consumption.
Members would be aware that the Inter-Ministerial Committee on Climate Change (IMCCC), chaired by Deputy Prime Minister Teo Chee Hean, recently released a Climate Action Plan that explains the whole-of-Government strategy we have adopted to reduce our greenhouse gas emissions and to protect Singapore from the impacts of climate change. Improving our energy efficiency continues to be a key strategy.
Specifically, the Member has asked whether a national emissions trading scheme will be implemented as part of this strategy. In recent years, many countries around the world have implemented various carbon pricing instruments, including emissions trading schemes, to help in their climate change efforts. For example, the Republic of Korea launched its emissions trading scheme in 2015. China, which has seven regional pilots, has also announced its intention to introduce a national cap-and-trade system in 2017.
In Singapore, the Government has not made any decision on carbon pricing, including emissions trading schemes.