Singapore and Mongolia To Open Application Process For Carbon Credit Projects Under Bilateral Implementation Agreement

8 October 2026 – Singapore and Mongolia will open the application process for carbon credit projects under their Implementation Agreement (IA) on carbon credits cooperation from 30 October 2026. The Singapore-Mongolia IA will be the sixth implementation agreement under which Singapore has opened applications for carbon credit projects, following agreements with Ghana, Bhutan, Peru, Rwanda and Thailand.

2          The opening of the application process was announced by Minister of State for Manpower & Energy, Trade and Industry Mr Foo Cexiang during the Mongolia-Singapore Business Forum on 8 October 2026. The Forum was organised by the Embassy of Mongolia in Singapore and supported by the Singapore Business Federation (SBF) and the Mongolia Chamber of Commerce & Industry (MNCCI).

3          Authorised projects will support additional carbon mitigation activities in Mongolia and advance both countries’ climate ambitions. These projects will also promote sustainable development and benefit local communities through job creation and reduced environmental pollution.

4          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.

5          Interested parties may apply for authorisation of eligible carbon credit projects in Mongolia. Applications will be jointly reviewed by the Singapore and Mongolia governments on a rolling basis. Details on the application process will be on Singapore’s Carbon Markets Cooperation website from 30 October onwards, at https://go.gov.sg/sg-mn-ia.

Application Process

6          The application process comprises three stages, each corresponding to a different stage of the carbon credits project lifecycle (See Annex A). The first two stages require applicants to provide information on design and implementation plan for the carbon credits project in the lead-up to project authorisation. The final stage relates to the application of corresponding adjustments to carbon credits generated from authorised projects, in accordance with Article 6.2 of the Paris Agreement. Detailed steps on the application process can be found on Singapore’s Carbon Markets Cooperation website (https://go.gov.sg/sg-mn-ia) from 30 October onwards.

7          Singapore and Mongolia will assess applications against each country’s respective requirements. For Singapore, these projects must meet Singapore’s eligibility criteria for ICCs. Singapore’s eligibility criteria, and the list of eligible carbon crediting programmes and methodologies under the Singapore-Mongolia Implementation Agreement, are at Annex B, and published on the Carbon Markets Cooperation website.

 

Annex A_Flowchart of Application and Authorisation Process

Annex B_Singapore’s Eligibility Criteria and the Eligibility List under the Singapore-Mongolia Implementation Agreement

Annex C_Information on the Singapore-Mongolia Implementation Agreement