Philippine Ministry of Finance: still studying the feasibility of implementing carbon tax

The Philippine Ministry of Finance said earlier that it was considering imposing a carbon tax to encourage enterprises that emit carbon dioxide to turn to sustainable development. The income raised from the carbon tax is usually used to fund plans to reduce greenhouse gas emissions and promote sustainability. The Philippines promises to reduce its greenhouse gas emissions by 75% by 2030. According to the estimate of the International Monetary Fund, by 2030, the Philippine carbon pricing plan can raise up to $7 billion in revenue. There is no clear form of carbon pricing in the country, and the legislature is waiting for the government's carbon pricing proposal.