Singapore and Thailand have begun accepting applications for carbon credit projects under their bilateral implementation agreement, the two governments announced on Tuesday, marking Singapore’s fifth such project call and its first with an Association of Southeast Asian Nations (ASEAN) member.
The two countries signed the implementation agreement on carbon credits cooperation, aligned with Article 6 of the Paris Agreement, in August last year.
The agreement establishes a legally binding framework for the cross-border transfer of high-integrity, correspondingly adjusted carbon credits, a mechanism designed to prevent double counting of emissions reductions in both countries’ national inventories.
Eligible projects may draw on methodologies under internationally recognized standards including Gold Standard, Verra, the Global Carbon Council (GCC), and REDD+ programs, spanning sectors from agriculture and renewable energy to waste management.
Relevant: Singapore And Thailand Sign Landmark Carbon Credits Agreement
