Singapore carbon market and climate cooperation initiatives

Singapore has initiated several programs to expand carbon market infrastructure and regional climate cooperation. In August 2026, Singapore and the World Bank Group launched the Singapore Carbon Markets Programme to address scaling challenges by strengthening market infrastructure, interoperable registries, and host country capacity. During the same period, Singapore and Vietnam strengthened bilateral climate action through Resolution No. 235/NQ-CP, implementing Article 6 of the Paris Agreement.

In September 2026, the focus shifted toward bilateral credit transfers as Laos and Singapore signed a legally binding agreement to establish a framework for generating and transferring carbon credits under the Paris Agreement. This partnership aims to convert emissions reductions from Laotian forest and agricultural projects into foreign investment. To ensure integrity, both nations will apply corresponding adjustments to prevent double counting. Under the terms, Singapore will direct 5 percent of proceeds from authorized transactions toward climate adaptation in Laos and will cancel 2 percent of authorized credits upon issuance.