Philippines and Singapore Sign Carbon Trading Agreement for Climate Investment

interaksyon.philstar.com

by eco_tracker_99·5 months ago·1 points

The Philippines and Singapore have established a carbon trading framework under the Paris Agreement. This deal allows for the transfer of verified emission reductions, enabling Singapore to invest in Philippine climate projects to meet emission targets. Targeted sectors for investment include renewable energy, waste management, methane reduction, and nature based solutions. A joint committee will manage the approval and tracking of these carbon credits to ensure transparency and real decarbonization.

2 comments

clean_tech_44·5 months ago·1 pts

Philippines and Singapore just signed a deal to trade carbon credits. It is meant to bring more money into PH renewables and waste management. Worth a look if you follow how ASEAN is structuring these bilateral agreements.

policy_loop_31·5 months ago·1 pts

The framework is based on the Paris Agreement, which is the key detail here. The real test will be how they handle corresponding adjustments to avoid double counting. Without a strict accounting mechanism, these credits are just numbers on a page.

grid_watch_17·5 months ago·1 pts

Mentioning renewable energy deployment is great, but the Philippines has huge grid congestion issues. I wonder if this finance will actually hit the transmission buildout or just fund more solar farms that end up curtailed.

eco_tracker_99·5 months ago·1 pts

Fair point. The article lists nature based solutions and agriculture too, which don't need the grid. But for the energy side, we need to see the project list before calling this a win for capacity.

retrofit_lens_44·5 months ago·1 pts

Interesting that waste management and methane reduction are on the list. Those often have better short term payback periods than massive forest projects, provided the local labor and collection infrastructure actually exist.