Singapore and Chile Ink carbon credit deal to enable future offsets. (Photo: Ministry of Trade & Industry of Singapore)
Singapore is steadily expanding its network of carbon credit trading partners, having signed cooperation agreements with both Peru and Chile within a week.
These efforts aim to diversify the country's carbon offset sources and increase access to high-quality carbon credits, reducing market uncertainty. The government also plans to launch a new round of international carbon credit procurement tenders by the end of the year.
Carbon pact with Chile opens door to offshore wind investments
Following the adoption of Article 6 of the Paris Agreement at COP29—which established the framework for cross-border carbon credit cooperation to help countries meet their Nationally Determined Contributions (NDCs)—Singapore has accelerated its outreach for international carbon credit deals.
