Carbon pricing can only be effective if it is economically meaningful--That is the main message of ACN's webinar on carbon pricing and its role in tackling climate change.

Just shortly after the Responsible Business 101 Webinars that introduced the concept of responsibles business, ACN went more in-depth into a hot topic that is related to business and environmental sustainability.

Entitled "The role of carbon pricing in tackling climate change: A case study from Singapore", the session was conducted on 24 May 2018 by Ms Melissa Low, Research Fellow at the Energy Studies Institutes.

The webinar sought to answer the questions: How will the carbon tax be implemented come 2019? What does the implementation of a new Carbon Tax mean to doing business in Singapore? How can businesses look at carbon tax and the possibility of using international carbon credits as a business opportunity in a globalized world?

Interestingly, when the participants were asked through a poll during the session if they think carbon pricing is a useful policy to reduce emissions, there were only slightly more people that answered yes, while some answered that it is insufficient as a standalone policy.

A majority of the participants also do not think that Singapore is doing enough to address climate change.

They were also asked if they think that the $5/ton CO2e carbon tax is adequate in reducing emissions, and most of the participants think that it is way too low.

Clearly, there is more to unpack about the topic of environmental sustainability and how companies can be more responsible by adapting to these policies. ACN hopes to conduct more webinars of similar topics in order to help raise awareness and to educate people regarding responsible business conduct.

Stay tuned!