From taxation to financing, ASEAN is gearing up for green growth

Published onJune 13, 2018

Member states of ASEAN are intensifying efforts to shift towards green growth, according to regional leaders and stakeholders who gathered for a sustainable conference in Singapore last month. Singapore is introducing a carbon tax to tackle greenhouse gas emissions, the Philippines is increasing its tax on imported coal by 15 times to US$3 per tonne, while Indonesia is aiming to reduce its emissions from transport, energy and forestry sectors. This is a time when Myanmar is plunged into a national debate on electricity tariff reforms and soul-searching on which direction the country’s yet-to-be-announced economic policies should adopt. These environmental measures and policy efforts from different ASEAN countries serve as a timely reminder that taxes and regulations should take into account the environmental and social costs of different sectors.