SG, Zambia sign MoU on carbon credits

The countries will exchange best practices and knowledge on carbon credit mechanisms.

Singapore and Zambia signed a Memorandum of Understanding (MOU) to collaborate on carbon credits aligned with Article 6 of the Paris Agreement during the 2024 United Nations Climate Change Conference (COP29).

Under the MoU, both countries will work towards a legally binding agreement on carbon credits. It will also facilitate the exchange of best practices and knowledge on carbon credit mechanisms.

“International cooperation is vital if we are to meet the challenges posed by global climate change. This MOU signals both countries’ commitment to collaborate on areas of mutual interest, particularly in climate change mitigation,” Permanent Secretary Stanley Loh said.

The MoU was signed by Secretary Loh and the Permanent Secretary of Green Economy and Environment of Zambia, Douty Chibamba.