Thai cabinet approves collection of carbon tax
Thailand's cabinet agreed to levy a carbon tax of 200 baht/ton ($5.88/ton) of carbon emissions, a deputy finance minister said, as part of the country's efforts to reduce greenhouse gas emissions.
The tax, however, will be included in the existing oil tax and will not affect the retail price of oil and oil products, Paopoom Rojanasakul said in a statement.
The measure is a change in the internal structure of the excise tax that calculates the carbon price embedded in the oil tax, he said. "The carbon price setting will not affect the cost of the industrial sector and will not affect retail oil prices," he added.
The move seeks to help change consumer behavior to be environmentally friendly and assist in international trade negotiations that prioritize environmental impacts, Paopoom said.
Thailand has targeted carbon neutrality by 2050 and net-zero greenhouse gas emissions by 2065, while the automotive and oil industries are the source of 70% of carbon emissions, he said.
Products to be subject to the carbon price mechanism include gasoline, gasohol, kerosene, jet fuel, diesel biodiesel, liquid petroleum gas and fuel oil, Paopoom said.
Related News
- Sherwin-Williams expands global core product offering for customers worldwide
- New insulation board containing expandable polystyrene-containing recycled material used in pilot project by ABG, BASF and Sto
- Venezuela's PDVSA to keep producing, exporting and processing oil previously handled by Chevron
- Syntholene secures 20-MW energy agreement for geothermal-powered eSAF commercial demonstration facility
- Increase of ethanol mix in gasoline to 30% backed by tests, Brazil ministry says
- Digital Exclusive: The implementation and automation of an alarm management system in a complex control environment at KNPC’s Mina Al-Ahmadi refinery
Comments