Marilyn Cahatol

Philippines, Singapore ink implementation agreement on carbon credits deal

Article (news)

ABS-CBN News

<p>MANILA — The Philippines and Singapore have entered an implementation agreement on carbon credits collaboration on Thursday, April 30, during the ASEAN Climate Week in Manila.</p><p>The landmark implementation agreement was signed in a virtual ceremony by Department of Environment and Natural Resources Secretary Juan Miguel Cuna and Singapore’s Minister for Sustainability and the Environment and Minister-in-charge of Trade Relations Grace Fu.</p><p>Carbon credits allow investments in &quot;carbon projects&quot; like forest conservation, the development of renewable energy sources and the replacement of carbon-emitting vehicles.</p><p>Singapore&#x27;s Carbon Markets Cooperation says on its website says the country uses carbon credits to offset its emissions as it pursues decarbonization. </p><p>&quot;International cooperation aligned with the Article 6 of the Paris Agreement can raise global climate ambition and help countries that are alternative energy disadvantaged (such as Singapore) to achieve their targets through the transfer of mitigation outcomes between countries,&quot; it says.   </p><p>The implementation agreement reinforces the Philippines and Singapore&#x27;s memorandum of understanding on Carbon Credits Collaboration signed in August 2024. This is the Philippines&#x27; first agreement of its kind, while 11th for Singapore, said the Philippine Embassy in Singapore. </p><p>“The Implementation Agreement establishes a legally binding framework for the generation and transfer of carbon credits from carbon mitigation projects aligned with Article 6 of the Paris Agreement,” Singapore’s government said. </p><p><a href="https://unfccc.int/process-and-meetings/the-paris-agreement/article6">Article 6</a> of the Paris Agreement enables international cooperation to tackle climate change and to unlock financial support for developing countries, based on the United Nations Framework Convention on Climate Change. </p><p>Cuna noted that “this moment reflects the completion of rigorous technical work and the strength of a partnership built on trust, transparency, and a shared ambition to operationalise high-integrity climate cooperation under the Paris Agreement.”</p><p>He called the collaboration a “strategic decision” for the Philippines, “grounded in our national priorities, our development aspirations, and our commitment to global climate action.”</p><div><a href="https://www.abs-cbn.com/news/business/2026/1/29/marcos-jr-attributes-ph-s-growth-slump-to-climate-change-corruption-probe-1807">Marcos Jr. attributes PH’s growth slump to climate change, corruption probe</a></div><p>Fu, meanwhile, underscored Singapore and the Philippines’ “strong and longstanding partnership,” and said that the signing of the agreement during ASEAN Climate Week is an “important milestone in our bilateral relations.”</p><p>“This Agreement will deepen collaboration between our two countries, channel climate finance towards impactful projects in the Philippines and unlock new opportunities in carbon markets for businesses and local communities,” Singapore’s Ministry of Trade and Industry (MTI) said. </p><p>The ministry added that the implementation agreement will “promote sustainable development and deliver tangible benefits to local communities, such as creation of jobs, enhanced energy security, and reduction of environmental pollution.”</p><div><a href="https://www.abs-cbn.com/news/weather-traffic/2025/5/30/half-the-world-faced-an-extra-month-of-extreme-heat-due-to-climate-change-study-1551">Half the world faced an extra month of extreme heat due to climate change: study</a></div><div><br/></div><div><strong>RELATED VIDEO:</strong></div><div style="text-align:center"><iframe width="560" height="315" src="https://www.youtube.com/embed/y19WEesgy2k?si=1HBf6e7qDGiju0XA" title="YouTube video player" frameBorder="0" allowfullscreen=""></iframe><br/></div>

<p>The Philippines and Singapore have entered an implementation agreement on carbon credits collaboration on Thursday, April 30, during the ASEAN Climate Week in Manila, Singapore’s Ministry of Trade and Industry (MTI) said.</p>

The Philippines and Singapore have entered an implementation agreement on carbon credits collaboration on Thursday, April 30, during the ASEAN Climate Week in Manila, Singapore’s Ministry of Trade and Industry (MTI) said.