Bangladesh and Singapore signed a Memorandum of Understanding on carbon market cooperation at COP31 in Antalya, Turkiye. The agreement, signed by Bangladesh's State Minister for Environment, Forest and Climate Change Shaikh Faridul Islam and Singapore's Sustainability and Environment Secretary Melvin Ong, is meant to open up work under Article 6 of the Paris Agreement. It covers exchanging information on carbon credits, exploring emission reduction projects, and helping Bangladesh build internationally recognized carbon markets. Article 6 lets countries trade emissions reductions to meet their national climate goals. For Bangladesh, the MoU could expand access to carbon finance, attract private investment, and support its updated NDC 3.0 targets. It also sets up a framework for technology transfer and low-carbon development with Singapore. Concrete credit volumes, project types, and timelines are not specified yet, so the next step is watching whether the MoU turns into actual transactions.
