Financial Impact on Businesses Given New Target to Reach Net-Zero Greenhouse Gas Emissions by 2050

Mr Yip Hon Weng asked the Minister for Trade and Industry in view of the new target to reach net-zero greenhouse gas emissions by 2050 and with the revised target to reduce our emissions to around 60 million tonnes of CO 2 equivalent in 2030 (a) what will be the financial implications on our businesses; and (b) how will the Government help our businesses to cope with additional financial costs of meeting our long-term national climate change targets.

Mr Gan Kim Yong: I thank the Member for the question. This question has been addressed in my reply to Question Nos 32 and 33 for oral answer on the Order Paper for 7 November 2022. [Please refer to "Support for Development of Green Local Firms and Uptake of Enterprise Sustainability Programme", Official Report, 7 November 2022, Vol 95, Issue 73, Written Answers to Questions for Oral Answer not Answered by End of Question Time section.]