The journey to low carbon transition: An introduction to carbon pricing
Carbon pricing is a market mechanism and policy instrument that puts a price on greenhouse gas emissions. It creates financial incentives to decarbonise economic activity by increasing the price of energy, products and assets which are less carbon-efficient than their alternatives, with the end-goal of catalysing changes in investment, production, consumption and technological innovation and incentivising financing for clean energy. According to the World Bank, as of 1 April 2021, there are around 64 carbon pricing initiatives that 45 national jurisdictions have implemented or are considering to implement.
In this article, we set out some of the developments on carbon pricing in Singapore, as well as trends in Asia.
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