Carbon pricing and ending fossil fuel subsidies will benefit Malaysia's economy, says OECD

Quick Summary:

A new report recommends that Malaysia end fossil fuel subsidies and implement a carbon tax or emissions trading system alongside transfers to support vulnerable, low-income groups.

In June this year, the government announced that it would only provide targeted diesel subsidies for the logistics sector, a move that it estimated would save 4 billion Malaysian ringgit (US$920 million) annually.

Fossil fuel subsidies in Malaysia are predominantly focused on supporting fuel consumption in the transport sector, as well as liquefied petroleum gas cylinders used for cooking, the OECD said.

---

More Pictures

---

Read Quick SummarySave Time

or

Article Details

Author / Journalist: Samantha Ho

Category: EconomyBusiness

Markets: SingaporeMalaysia

Topics: Fossil fuels Carbon accounting Subsidies Emissions Carbon tax Energy

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-08-29 @ 07:23:00 (3 days ago)

News Timezone: GMT +8:00

News Source URL: eco-business.com

Language: English

Article Length: 675 words

Reading Time: 4 minutes read

Sentences: 22 lines

Sentence Length: 31 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Eco-Business

News ID: 22314569

View Article Analysis

About Eco-Business

Main Topics: EconomyBusiness

Official Website: eco-business.com

Year Established: 2009

Headquarters: Singapore

News Last Updated: 2 days ago

Coverage Areas: Singapore

Ownership: Independent Company

Publication Timezone: GMT +8:00

Content Availability: Worldwide

News Language: English

RSS Feed: Available (XML)

API Access: Available (JSON, REST)

Website Security: Secure (HTTPS)

Publisher ID: #100

Publisher Details

Frequently Asked Questions