Ecobiz.asia – Singapore has approved another forest carbon methodology under its International Carbon Credit (ICC) Framework, expanding the range of projects eligible to generate carbon credits that companies can use to offset part of their taxable emissions.

The Singapore government has added Verra’s Verified Carbon Standard (VCS) methodology VM0010, Methodology for Improved Forest Management: Conversion from Logged to Protected Forest, to the framework, Verra announced on Oct. 13, 2026.

The addition brings the number of Verra forest carbon methodologies approved under Singapore’s ICC Framework to three. The other two are VM0048, Reducing Emissions from Deforestation and Forest Degradation, and VM0047, Afforestation, Reforestation, and Revegetation.

Under the framework, companies liable for Singapore’s carbon tax can use eligible international carbon credits to offset up to 5% of their taxable emissions.

Singapore has signed 12 implementation agreements with countries hosting carbon projects. The methodologies eligible for use vary by agreement, based on arrangements mutually agreed between Singapore and each host country.

Verra said it continues to engage with Singapore’s National Environment Agency (NEA) to support the use of VCS methodologies and registry infrastructure under the ICC Framework.

The inclusion of VM0010 provides another pathway for improved forest management projects to participate in Singapore’s international carbon credit market, subject to the applicable implementation agreements and eligibility requirements. ***