Singapore signed a memorandum of understanding with Tanzania to cooperate on carbon credits under Article 6 of the Paris Agreement. The deal was announced during President Tharman Shanmugaratnam's state visit to Tanzania. Both countries will work toward a legally binding implementation agreement covering the authorization and international transfer of correspondingly adjusted carbon credits. The MOU focuses on identifying mitigation projects that comply with Article 6 rules and align with each country's nationally determined contributions. Singapore's Minister of State Alvin Tan said the agreement reflects a shared focus on high-integrity carbon markets. The deal follows Singapore's $15 million commitment to the Global Green Growth Institute's Carbon Transaction Facility as part of its broader Article 6 push.
