Release of Aggregated Amount of Allowances Provided to Emissions-Intensive Trade-Exposed Sectors

88 Ms He Ting Ru asked the Deputy Prime Minister and Minister for Trade and Industry (a) whether the aggregated amount of allowances provided to Emissions-Intensive Trade-Exposed sectors is ready to be released; and (b) how transitory allowances may impact Singapore's ability to achieve its 2035 Nationally Determined Contribution of reducing emissions to between 45 and 50 million tonnes of carbon dioxide equivalent (MtCO2e) by 2035.

Mr Gan Kim Yong: We plan to release aggregated data on carbon tax allowances in 2027.

Singapore takes our international obligations under the Paris Agreement seriously. Our ability to deliver on our Nationally Determined Contribution will entail a whole-of-nation effort, from industry to Government and individuals, to abate emissions, be more energy-efficient and accept low-carbon alternatives.

Nevertheless, our ability to fulfil our pledges will also depend on continued international commitment by countries to deliver on their climate pledges, as well as the maturity of decarbonisation technologies and effective international cooperation.