SINGAPORE, Feb 26 — Singapore will start operationalising its fifth agreement on carbon credits with Thailand on March 31, said Singaporean Deputy Prime Minister Gan Kim Yong.
Speaking during the Committee of Supply 2026 debate in parliament today, he said the latest deal marks the republic’s first operationalised carbon credit agreement with an ASEAN member.
“We have signed 10 implementation agreements with countries such as Vietnam, Thailand, and Peru. We have successfully operationalised four of these agreements so far.
“Building on this momentum, we will operationalise our fifth agreement on March 31 with Thailand, with a call for projects under our partnership,” he said.
Gan noted that carbon credits partnerships allow the city-state to decarbonise by financing emission reductions in overseas sites, with greater potential for decarbonisation.
“Because our domestic options are limited, cross-border solutions are essential.. carbon credits is one example,” he added.
According to Gan, Singapore also announced the award for two million tonnes of high-integrity nature-based credits from projects in Ghana, Paraguay, and Peru in September 2025.
“A second request for proposal for both technology and nature-based carbon credits is currently in progress.
“Looking ahead, we are exploring novel solutions such as biomethane, low-carbon hydrogen solutions, and nuclear in the longer term,” Gan added.
