Singapore and the Philippines have signed their first Article 6 carbon credits implementation agreement, creating a formal framework for cross-border carbon trading under the Paris Agreement. Announced during ASEAN Climate Week in Manila, the pact strengthens regional climate cooperation and supports emissions reduction efforts. It also aligns Singapore’s carbon market ambitions with the Philippines’ sustainable development goals.
The agreement enables the rollout of high-quality carbon credit projects in the Philippines, with clear rules for authorization, accounting, and transfers. It is expected to unlock climate finance across key sectors such as energy and infrastructure while generating jobs and community benefits. The deal also aims to build investor confidence by ensuring transparency and credibility in carbon markets.