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Singapore’s Minister of State for Trade and Industry Gan Siow Huang announces new renewable energy and carbon policies at ACES. (Photo: MTI Singapore)
Singapore is spearheading efforts to establish a Cross-Border Renewable Energy Certificates (RECs) framework for ASEAN, aiming to align national standards across three key dimensions.
The initiative is designed to accelerate the formation of a regional renewable energy trading market in tandem with the steady expansion of the ASEAN Power Grid (APG), addressing the growing demand for corporate decarbonisation solutions.
ASEAN REC standardization to boost regional power trade
Jointly developed by Singapore’s Ministry of Trade and Industry (MTI), the Energy Market Authority (EMA), and the International Tracking Standard (I-TRACK) Foundation, the framework seeks to provide guidance on cross-border REC tracking and accounting while minimizing the risk of double-counting. Previously, EMA had launched local REC standards applicable only within Singapore’s borders.
