Course Description

Synopsis:

This module presents the highlights of the ISCA Web-Bitez Learning Series on "Carbon Tax - How It Affects Businesses".

As Singapore braces for a significant carbon tax hike in 2024 and beyond, businesses must navigate a terrain of increasing operational costs and evolving regulatory landscapes. This module aims to dissect the implications of carbon tax increases on businesses, particularly as it intersects with the concurrent GST hike from 8% to 9% in 2024, potentially escalating overall prices and inflation rates.

Key topics covered in this session:

• Understanding Carbon Taxes: An overview of Singapore's Carbon Tax Framework and the slated increases.
• Financial Impact: How carbon tax will influence the price of utilities, fuel, and public transport, and its consequent effect on inflation and pricing strategies.
• Cost Management Strategies: Exploring methods for businesses to manage the financial impact, including reducing electricity and fuel usage through energy efficiency and clean energy transitions.
• Business Model Transformation: The necessity for businesses to re-evaluate their models in light of climate risks and carbon tax.
• Policy and Support Measures: Guide to available financial support, such as the Enterprise Development Grant for Sustainability Projects from Enterprise SG from April 2023 to March 2026.

Objectives:

• Equip finance professionals with a comprehensive understanding of the carbon tax increase and its broader economic effects.
• Provide actionable strategies for businesses to mitigate cost impacts through operational efficiencies and sustainable practices.
• Offer insights into government grants and support that can aid businesses in their transformation toward sustainability.
• Help finance professionals to grasp the fiscal implications of environmental policies and to steer their organisations towards a resilient and sustainable future.
  
  

Intended For:

• Audit Professionals / PAIP 
• Finance Professionals / PAIB 
• Public Sector Finance
• C-suite & Directors 
• Business Owners

Competency Mapping: 

CPE Category "Others" = 1.5 CPE Hours