On September 16, 2025, Singapore signed its ninth Article 6.2 implementation agreement, this time with Vietnam, marking another step in its growing network of carbon trading partnerships. The Ministry of Trade and Industry pledged to channel 5% of proceeds from authorized carbon credits into Vietnam’s climate adaptation efforts, reinforcing Singapore’s commitment to high-integrity cooperation under the Paris Agreement. With earlier agreements signed with Papua New Guinea, Ghana, Bhutan, Peru, Chile, Rwanda, Paraguay, and Thailand, Singapore continues to establish itself as a key player in the voluntary carbon markets.
Alongside the new agreement, the government announced the purchase of 2.175 million tons of high-quality nature-based carbon credits from projects in Peru, Paraguay, and Ghana. These projects focus on REDD+ forest conservation, grassland restoration, and regenerative land management practices, bringing benefits for biodiversity, local communities, and climate resilience. Another call for proposals is expected later in 2025, expanding Singapore’s International Carbon Credit Framework and supporting its goal of meeting the 2030 NDC through sustainable, high-integrity climate solutions.
