Project Development and Application

No. Projects must use carbon credit programmes and methodologies listed on the Eligibility List at the point of submission. Please refer to the Eligibility List under each Implementation Agreement (IA), which is jointly agreed between Singapore and the host country. One example is the Singapore-Ghana Eligibility List, which can be found here.

Singapore takes reference from reputable international standards such as the Carbon Offsetting and Reduction Scheme for International Aviation (CORSIA) in the development of the Eligibility List.

Please note that the Eligiblity List differs by host country as accepted methodologies would have to fulfill the requirements of the host countries. 

This approach allows Singapore to tap into Carbon Crediting Programmes’ (CCPs) capabilities in ensuring that ICCs are robustly validated, verified, issued and retired. It also enables faster time-to-market given that the methodologies are already published, and streamlines the registration process given industry’s familiarity.

The Eligibility List is reviewed regularly to maintain relevance and uphold the required environmental integrity standards.

The Eligibility List sets out the carbon credit programmes and methodologies that meet Singapore’s and our host country’s eligibility criteria. For any feedback on the Eligibility List, project applicants may wish to write to ICC_Article_6@nea.gov.sg.

There are no restrictions on credits that can be bought or sold in Singapore’s Voluntary Carbon Market.

The Eligibility List is bilaterally agreed upon between Singapore and the host country. The Eligibility List will be published online when ready.

Only carbon credits generated in countries where Singapore has an IA can be authorised and transferred as Internationally Transferable Mitigation Outcomes (ITMOs), in compliance with Article 6 of the Paris Agreement.

Singapore is actively engaging partner countries on Implementation Agreements on carbon credit collaboration.

Yes, existing projects that have already been implemented may still be considered for authorisation, provided they meet both countries’ applicable domestic laws, regulations and administrative framework.

Yes. Depending on the eligibility criteria agreed with each host country, it is possible for project applicants to submit their PDD to carbon crediting programmes prior to initiating the application under the IA process. These projects are still required to go through all stages of the application process and comply with all other requirements.  

You should submit a binding offer to Singapore Government at the point of validated Project Design Document (PDD) to the Singapore Government under the Implementation Agreement (IA) authorisation process. The specific stage of the authorisation process may differ, depending on the IA. For example, this will be Stage C in the Singapore-Ghana IA authorisation process, and Stage B in the Singapore-Rwanda IA authorisation process.

The Singapore Government will not pre-determine the price of ITMOs under the Right of First Offer (ROFO) requirement.

Yes, if the Singapore Government declines to purchase the ITMOs offered under ROFO, you may sell them to other buyers. Please note that the sale of the ITMO is still subject to the Eligible Entity requirement.

ITMOs authorised under Singapore’s IAs must first be sold or transferred to Eligible Entities. Once the ITMOs have met the Eligible Entity criteria, they can be sold domestically or internationally. Besides the Singapore Government, other demand sources include Singapore carbon tax-liable companies and other sectoral compliance schemes such as CORSIA.

Sellers who are interested to be connected to carbon-tax liable companies in Singapore may register their interest with the Singapore Carbon Market Association (SCMA).

The government issues Requests for Proposals (RFPs) to purchase ITMOs. These opportunities are publicised on GeBIZ, and interested sellers can register for an account here. You are also encouraged to submit your company details at this form to be kept informed of future RFP opportunities.

Our upcoming RFPs will be hosted on the Government procurement website, GeBIZ. You can register for a free GeBIZ account here to participate in future RFPs. Please fill up the form here to be notified of future RFPs.