Jun 10, 2020
Two industrial sectors have been recently added to TEMBUSU Asia Consulting’s accreditation as an independent Greenhouse Gas (GHG) Emissions Verifier under Singapore’s Carbon Pricing Act 2018 and Carbon Pricing (Measurement, Reporting and Verification) Regulations 2018.
With this accreditation, TAC is now able to serve as an external auditor for non-large scale manufacturers of chemical products (Sector 2) and manufacturers of semiconductor devices and wafers (Sector 3). The addition of these credentials is part of our commitment to provide our clients with one-stop innovative solutions and integrated service and help them meet the United Nation Sustainable Development Goals.
The Carbon Pricing Act was first published in the Government Gazette on 1 June 2018 for the reporting of and tax payment in relation to GHG emissions, and to make consequential and related amendments to the Energy Conservation Act (ECA). The Singapore government has implemented a carbon tax effective from 2019 at a rate of S$5 per tonne of GHG emissions until 2023.
The GHG Measurement and Reporting Regulations 2017 (GHG M&R Regulations) was gazetted on 22 December 2017 under the ECA. Under the GHG M&R Regulations, a registered corporation/facility will be subject to M&R requirements when its total direct GHG emissions (Scope 1) exceeds the threshold of 25,000 tCO2e (i.e. tonnes of carbon dioxide emission) in any calendar year.
Please refer to our article Overview of the carbon tax in Singapore for more information on Singapore’s carbon tax and Carbon Pricing Act 2018.