Singapore, Bhutan ink MOU for carbon credits partnership

They will sign an agreement for the international transfer of carbon credits.

Singapore and Bhutan signed a memorandum of understanding (MOU) for collaboration on carbon credits, reinforcing their commitment to support climate action.

In a statement, the Ministry of Trade and Industry said the MOU, signed between Singapore’s Minister Gan Kim Yong and Bhutan’s Minister for Energy and Natural Resources Loknath Sharma, strengthens the countries' cooperation on carbon credit in line with Article 6 of the Paris Agreement.

Under the agreement, Singapore and Bhutan will sign a legally-binding bilateral agreement that establishes a framework for the international transfer of adjusted carbon credit by end-2023.

READ MORE: SG, Cambodia collaborate on carbon credits

“Effective partnership between countries is important in addressing the global climate challenge. This is the first MOU that Singapore is signing with a carbon-negative country,” Gan said. 

“Through this MOU, Singapore and Bhutan intend to collaborate on carbon credits aligned to Article 6 of the Paris Agreement, which will enable us to accelerate decarbonisation, and generate mutual benefits including growing each other’s green economy,” he added.

Article 6 of the Paris Agreement enables countries to work together in achieving emissions targets under their nationally determined contribution. 

Follow the link for more news on

Join Singapore Business Review community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

Top News

DBS and OCBC expected to deliver steady Q1 net profits
Their net interest margins will ease as a result of their Hong Kong loans.
Singapore's maritime cluster navigates towards digital, green future
Adapting to emerging challenges, such as the adoption of alternative fuels, is deemed crucial for the country's maritime sector.
SCG and A*STAR unveil joint labs for cellular immunotherapy enhancement
The partnership has a funding of nearly $30m supported under Singapore's Research, Innovation and Enterprise 2025 plan.