Which nation instituted a carbon levy starting in 2019 to reduce its greenhouse gas output?
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Answer: B. Singapore
Explanation
Singapore instituted a carbon levy to actively reduce its greenhouse gas output. The pioneering government tax policy targeted large industrial emissions across the island. Authorities designed the economic mechanism to incentivize clean energy adoption by businesses. The carbon tax implementation in 2019 made it a regional trailblazer in Southeast Asia. Industrial facilities emitting greenhouse gases must purchase allowances based on total output. Revenue generated from the environmental levy supports green technology research and development.
Carbon pricing encourages corporations to invest in energy-efficient machinery and sustainable practices. Low-lying island nations face severe existential threats from rising global sea levels. Economic incentives prove effective in driving corporate sustainability without halting industrial growth. Malaysia explores environmental regulations but implemented different industrial emissions management strategies. China utilizes carbon trading markets rather than direct nationwide carbon taxation models. The United Kingdom relies on cap-and-trade schemes alongside direct green vehicle legislation.
- Subject
- Current Affairs
- Category
- World Current Affairs
- Topic
- —
- Difficulty
- medium
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