Source: Government of Singapore
JOINT NEWS RELEASE BETWEEN NEA AND MTI
31 March 2026 – Singapore and Thailand have launched an application call for carbon credit projects under their Implementation Agreement on carbon credits cooperation. This is Singapore’s fifth call for project applications, following the call for project applications with Ghana, Peru, Bhutan and Rwanda.
2 Authorised projects will unlock additional carbon mitigation options in Thailand and advance both countries’ climate ambitions. Through targeted financing, these projects will also promote sustainable development and benefit local communities through job creation and reduced environmental pollution.
3 Authorised projects will generate carbon credits aligned with Article 6 of the Paris Agreement. Under Singapore’s International Carbon Credit (ICC) framework, these credits may be eligible for use by Singapore-based carbon tax-liable companies to offset up to 5% of their taxable emissions.
4 Interested parties may submit applications for their carbon credit projects in Thailand to be authorised. The applications will be jointly reviewed by the Singapore and Thailand governments on a rolling basis upon receipt.
Application Process
5 The application process comprises three stages, each corresponding to a different stage of implementation for the carbon credit project (See Annex A). The first two stages require the applicant to submit details on the design and implementation plan for the carbon credits project in the lead-up to project authorisation. The final stage is for corresponding adjustments to be applied to the carbon credits generated from the authorised project, in accordance with Article 6, Paragraph 2 of the Paris Agreement. Detailed steps on the application process can be found at Singapore’s Carbon Markets Cooperation website, at www.carbonmarkets-cooperation.gov.sg/overview-thailand/.
6 Singapore and Thailand will assess applications against each country’s respective requirements. For Singapore, these projects must meet Singapore’s eligibility criteria for ICCs. The eligibility criteria, and the list of eligible carbon crediting programmes and methodologies under the Singapore-Thailand Implementation Agreement, are at Annex B, and published in the Carbon Markets Cooperation website.
Annex A_Flowchart of Application and Authorisation Process
Annex C_Information on the Singapore-Thailand Implementation Agreement
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