Written Reply to Parliamentary Question on 2024 Biennial Transparency Report

Singapore has outlined its strategy in the 2024 Biennial Transparency Report to use 2.51 million tonnes of carbon dioxide equivalent (MtCO2e) per annum of Internationally Transferred Mitigation Outcomes (ITMOs) to meet its emissions reduction commitments from 2021 to 2030. The country plans to obtain high-quality ITMOs in the form of International Carbon Credits (ICCs) compliant with Article 6 of the Paris Agreement. Singapore has signed Implementation Agreements (IAs) with Ghana and Papua New Guinea for carbon credits cooperation and is engaging over 20 other countries for similar agreements. Additionally, the government has initiated a Request for Proposal (RFP) to source ICCs from nature-based solutions, with evaluations of proposals currently underway.