Article 6 Agreements
About Article 6 Agreements
Singapore has been engaging countries on carbon credits collaboration aligned with Article 6 of the Paris Agreement. This bilateral cooperative approach enables us to achieve our climate targets set out in our Nationally Determined Contributions (NDCs), while promoting sustainable development.
What are Article 6 Agreements?
Singapore is working with countries on carbon credits collaboration aligned with Article 6 of the Paris Agreement. This bilateral cooperative approach enables us to achieve our climate targets set out in our Nationally Determined Contributions (NDCs), while promoting sustainable development. Our cooperation follows a phased approach: first, a Memorandum of Understanding that signals our shared intent and outlines the area of collaboration, and subsequently, a legally binding Implementation Agreement that enables the generation and transfer of Article 6 carbon credits.
Memoranda of Understanding (MOU)
The MOU signals Singapore’s and host countries’ intent to collaborate on carbon markets, aligned with Article 6 of the Paris Agreement. Under the MOU, we will work towards a legally binding Implementation Agreement and identify potential Article 6-compliant mitigation activities which can support our achievement of respective NDCs.
Singapore has signed MOUs with the following countries:
Latin America & the Caribbean | Asia & Oceania | Africa |
Brazil | Cambodia | Ethiopia |
Colombia | Fiji | Kenya |
Costa Rica | Lao PDR | Malawi |
Dominican Republic | Malaysia | Morocco |
Sri Lanka | Senegal | |
Tanzania | ||
Zambia |
Implementation Agreements (IA)
Implementation Agreements (IA)
The IA sets out the bilateral framework for the international transfer of correspondingly adjusted carbon credits (i.e., Article 6 credits or internationally transferred mitigation outcomes, ‘ITMOs’) between Singapore and our partner countries. The framework covers processes such as project authorisation, reporting requirements, and corresponding adjustments. Private sector players can leverage this framework to develop carbon credit projects that issue ITMOs.
The IA framework will adhere to existing national frameworks of Singapore and host countries to ensure environmental integrity and contribute to climate action.
Singapore has signed IAs with the following countries:
Signed IA | |
|---|---|
*Signed MOU
Share of Proceeds
In support of global climate ambition, Singapore’s bilateral agreements will require a contribution equivalent to 5% share of proceeds (SOP) of the Article 6 carbon credits generated under our IAs towards the host countries’ adaptation actions and/or UNFCCC Adaptation Fund.
Contribution to Overall Mitigation of Global Emissions
Article 6 carbon credits generated under the framework set up by Singapore will also support an overall mitigation of global emissions (OMGE). 2% of Article 6 carbon credits generated are required to be cancelled at issuance, contributing to an overall mitigation of global emissions.
Visit the Singapore Carbon Markets Cooperation website (opens in new tab) for more information.