Singapore, Mongolia to open applications for carbon credit projects

Home

China

World

Politics

Business

Sci-Tech

Health

Opinions

Video

Live

Radio

World Asia-Pacific Middle East Europe Americas Africa

By continuing to browse our site you agree to our use of cookies, revised Privacy Policy and Terms of Use. You can change your cookie settings through your browser.

I agree

Singapore and Mongolia will open applications for carbon credit projects on October 30 under a bilateral implementation agreement, Singapore's Ministry of Energy, Trade and Industry and National Environment Agency said in a statement on Thursday.

A view of Ulan Bator, capital of Mongolia. /VCG

The projects will generate carbon credits aligned with Article 6 of the Paris Agreement. Under Singapore's International Carbon Credit Framework, the credits may qualify for use by Singapore-based companies liable for carbon tax to offset up to 5% of their taxable emissions.

Interested parties may apply for authorization of eligible carbon credit projects in Mongolia. The two governments will review applications jointly on a rolling basis.

The agreement is Singapore's sixth bilateral implementation agreement under which Singapore has opened applications for carbon credit projects, following similar agreements with Ghana, Bhutan, Peru, Rwanda and Thailand.

Source(s): Xinhua News Agency

Open in CGTN APP for better experience

Search Trends