Singapore Sets Higher Standards for International Carbon Credits

Title: Singapore Takes a Lead in International Carbon Credits with Rigorous Standards Introduction: NetZeroEarth is excited to share that Singapore has introduced a set of eligibility criteria for international carbon credits (ICCs) to ensure their high quality. These criteria, introduced by the Ministry of Sustainability and the Environment and the National Environment Agency, align with the Paris Agreement and international standards, placing Singapore at the forefront of climate action. By implementing strict standards for ICCs, Singapore aims to offset taxable emissions and achieve its goal of net zero emissions by 2050. High Standards for International Carbon Credits: Under Singapore's Carbon Pricing (Amendment) Bill, tax liable companies will face a significant increase in carbon tax in the coming years. To help companies reduce their carbon tax bills, the eligibility criteria for ICCs provide guidance on how these credits can be used for offsetting emissions. The credits are equivalent to one tonne of carbon removed from or avoided in the atmosphere. Companies can use ICCs to offset up to 5% of their carbon emissions. The 7 Principles of High-Quality Carbon Credits: To ensure the environmental integrity of international carbon credits
Back to blog