Government still studying carbon tax possibility
SINGAPORE - The Government is still mulling over a possible carbon tax - about 19 months after it had first floated the possibility if a global deal on climate change is reached.
Yesterday, Deputy Prime Minister Teo Chee Hean told reporters: "We are still studying if (a carbon tax) is appropriate, what is the best way of doing so, looking at the experiences of other countries as well."
To encourage the industry sector to improve energy efficiency, the Government is also considering a contracting model where a third-party energy services company (ESCO) bears the upfront cost of energy efficiency investments.
The ESCO will then take a fixed proportion of the money saved over time by the client.
Alternatively, the client pays for a project proposed by the ESCO, which guarantees a specified level of cost savings.
If the guaranteed level is not achieved, the ESCO makes up the difference to the client.
SINGAPORE - The Government is still mulling over a possible carbon tax - about 19 months after it had first floated the possibility if a global deal on climate change is reached.
Yesterday, Deputy Prime Minister Teo Chee Hean told reporters: "We are still studying if (a carbon tax) is appropriate, what is the best way of doing so, looking at the experiences of other countries as well."
To encourage the industry sector to improve energy efficiency, the Government is also considering a contracting model where a third-party energy services company (ESCO) bears the upfront cost of energy efficiency investments.
The ESCO will then take a fixed proportion of the money saved over time by the client.
Alternatively, the client pays for a project proposed by the ESCO, which guarantees a specified level of cost savings.
If the guaranteed level is not achieved, the ESCO makes up the difference to the client.
