Ecobiz.asia – Singapore and Thailand have signed an Implementation Agreement to advance carbon credit cooperation under Article 6 of the Paris Agreement.
The agreement was formalized on Tuesday (19/8/2025) during the 9th Singapore Regional Business Forum (SRBF) in Bangkok.
The signing was conducted by Singapore’s Minister for Manpower and Second Minister for Trade and Industry, Dr Tan See Leng, and Thailand’s Minister of Natural Resources and Environment, Chalermchai Sri-on.
It marks Singapore’s first Implementation Agreement with an ASEAN country on carbon credit collaboration.
The agreement provides a legal framework for the development and transfer of carbon credits in line with Article 6 guidelines.
Projects implemented under this scheme are expected to generate high-integrity carbon credits that can be used to meet national emission reduction targets (NDCs) and other international schemes, such as the CORSIA program for aviation.
“This partnership demonstrates our shared commitment to delivering tangible outcomes from the Paris Agreement. We hope this will serve as a model for how Southeast Asia can develop credible and high-quality carbon credit projects,” said Dr Tan See Leng.
Minister Chalermchai highlighted the agreement as a milestone for ASEAN cooperation in climate action. “Thailand is committed to becoming a hub for high-quality carbon projects, from forestry and clean energy to zero-emission transport,” he said.
Carbon credit projects under this agreement are also expected to deliver direct benefits to local communities, including job creation, better waste management, improved energy efficiency, and reduced air pollution.
As part of its commitment, Singapore will contribute 5% of the authorized carbon credits’ value to climate adaptation programs in Thailand, including sustainable forest management, flood resilience, and water resource governance.
In addition, 2% of the credits will be canceled upon first issuance to ensure a net reduction in global emissions rather than simple accounting transfers.
This agreement adds to seven other similar deals Singapore has signed with partner countries, including Papua New Guinea, Ghana, Peru, and Chile. ***
