Singapore on October 4 set out the eligibility criteria governing international carbon credits that companies can purchase to offset their taxable carbon emissions.
The Minister for Sustainability and the Environment Grace Fu announced the new criteria, which involve seven principles, during the National Energy Efficiency Conference. The new criteria will ensure that the carbon credits are of "high environmental integrity", she said.
"The development of well-functioning carbon markets, which effectively matches the demand and supply of high-quality carbon credits, is a vital part of global efforts to get to net zero," said Fu.
