SG, Peru sign agreement on carbon credits collaboration

This is the first deal Singapore entered into with a Latin American country.

Singapore and Peru signed an Implementation Agreement on carbon credits collaboration, marking the city-state’s first agreement with a Latin American country.

The collaboration will advance both countries’ climate goals by directing financing towards unlocking additional mitigation potential in Peru.

The projects authorised under the agreement will promote sustainable development and deliver tangible benefits such as job opportunities, improved access to clean water, enhanced energy security, and reduction of environmental pollution.

The Implementation Agreement establishes a framework for the generation and transfer of carbon credits from carbon mitigation projects aligned with Article 6 of the Paris Agreement.

Project developers can leverage this framework to develop high-quality carbon credit projects that are aligned with the Article 6 rulebook.

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