General Information
1. How can a carbon tax-liable facility source for eligible International Carbon Credits (ICCs)?
Tax-liable facilities can work with project developers or third-party service provider to either source eligible ICCs from existing projects or develop new ones.
Companies that wish to source ICCs from project developers may refer to the IA project register, which will list the projects that have been authorised under the IA for corresponding adjustments.
Companies that wish to develop their own ICC projects may refer to information the processes and participation criteria to ensure that the ICCs generated from their projects will be accepted under the carbon tax.
2. Can carbon tax-liable companies purchase carbon credits from other countries other than those countries that Singapore have signed Implementation Agreements with?
No. To comply with Article 6.2 of the Paris Agreement, carbon credits from projects hosted in countries without an implementation agreement are not allowed to be used to offset carbon-tax liability under Singapore’s ICC Framework.
3. When can carbon tax-liable companies expect to buy ICCs?
Singapore has signed Implementation Agreements (IAs) with Bhutan, Chile, Ghana, Papua New Guinea, Peru, Rwanda and Paraguay on Article 6 carbon credits cooperation. We are actively working with our counterparts to operationalise these partnerships.
For the Singapore-Ghana IA, we launched the call for project applications in Sept 2024, and are working closely with Ghana to assess the applications received.
Have other questions? Please send them to climate_cooperation@pmo.gov.sg.