The Philippines and Singapore have established a bilateral framework for the transfer of high integrity carbon credits. This agreement allows Singaporean companies to offset up to 5 percent of their taxable emissions using authorized credits from the Philippines, with a portion of proceeds funding local climate adaptation. Operating under Article 6.2 of the Paris Agreement, the deal focuses on sectors including renewable energy, methane reduction, and nature based solutions. Both nations will now integrate national registries to track mitigation outcomes and ensure a net reduction in global emissions.
