MSE and NEA said eligible carbon crediting programmes and their methodologies may be different for each host country, as host countries also have their own criteria.
NEA also published a guidance document for companies on the administrative processes under the ICC Framework, which can be found on the agency’s website.
On December 3 and 4, Singapore inked several preliminary carbon credit deals at the United Nations (UN) Climate Change Conference in Dubai.
The city-state also managed to “substantively conclude” separate negotiations with Bhutan and Paraguay – formally wrapping up negotiations on Article 6 implementation agreements with four countries, including Ghana and Vietnam.
Article 6 aims to prevent double counting, so that both seller and buyer cannot claim reductions or removals on the same amount of credits.
Papua New Guinea was one of 13 countries with whom Singapore negotiators had memorandums of understandings (MOUs) to collaborate on carbon credits, before confirmation of the deal took place on December 8.
When asked about the status of Singapore’s implementation agreement discussions with other countries, MSE referred The Business Times to an earlier statement noting that Singapore will continue to work on closing deals.
