The heart of carbon services in Asia
US$300B
annual green economy opportunity in Southeast Asia by 20301
25%
of the world's nature-based solution supply2
150+
carbon services companies across the value chain in Singapore3
US$300B
annual green economy opportunity in Southeast Asia by 20301
25%
of the world's nature-based solution supply2
150+
carbon services companies across the value chain in Singapore3
Singapore welcomes partners that offer high-quality Article 6 credits. High-integrity carbon credits are central to our decarbonisation journey and play a key role in scaling climate action.
Singapore’s carbon tax regime allows firms to offset up to five per cent of carbon tax liabilities using high-quality Article 6 carbon credits, creating strong demand.
In addition, the Singapore government is actively procuring carbon credits through Requests for Proposals. In September 2024, it launched an RFP for high-quality, nature-based Article 6 carbon credits and has since contracted ~2.175 million tonnes of credits at a total value of around S$76 million from four projects. A second RFP was launched in October 2025 to source both nature-based and technology-based Article 6 credits from partner countries.
As of 2025, Singapore has concluded at least 10 Implementation Agreements with countries across South America, Africa, and Southeast Asia to cooperate on international carbon credits. Singapore also has memorandums of understanding (MOUs) with several other countries.
Singapore has set clear quality benchmarks through our International Carbon Credit (ICC) framework that requires credits to meet a set of principles to demonstrate high environmental integrity. We have also whitelisted methodologies which align to these principles and take reference from reputable international standards across the market.
EDB’s Carbon Project Development Grant funds Singapore-based project developers with an established track record in carbon markets to conduct early-stage feasibility work for high-quality Article 6 projects.
To augment EDB’s grant, EDB is partnering with Temasek Trust Foundation Advisors (TTFA) which has established a donor-advised fund of S$20 million to finance projects alongside EDB.
In partnership with IETA, EDB launched the for international credit suppliers and Singapore-based buyers of Article 6 carbon credits to connect, share and collaborate on carbon credits.
Insights into Singapore's Carbon Services and Trading industry, and key sustainability updates in the region
