The carbon tax rate in Singapore will be increased from the current $5 per tonne of emissions to between $50 and $80 by 2030, a move that will help the nation reach new, more ambitious climate goals.

Finance Minister Lawrence Wong said in his Budget speech that the aim is for emissions to dwindle to net zero by or around 2050, 

On Sustainable Singapore, hosts Shehzad Haque and Melissa Hyak spoke to Som Shantanu, Regional Engineering Director of GE Gas Power on what the carbon tax price increase means for the energy market in Singapore.