21 May 2026 at 11:25 pm IST
Singapore has committed US$15 million to strengthen the development of international carbon markets under Article 6 of the Paris Agreement, reinforcing its strategy to expand climate finance and support global decarbonisation efforts. The announcement was made by Singapore’s Ministry of Trade and Industry on May 19, 2026. The funding will be channelled through two facilities under the Global Green Growth Institute’s carbon transaction programme. Of the total amount, US$10 million will support the establishment of the Singapore Article 6 Carbon Facility to help develop carbon credit projects aligned with Article 6 rules, while the remaining US$5 million will fund readiness programmes to help partner countries participate more effectively in carbon markets. Article 6 of the Paris Agreement enables countries to cooperate through international carbon credit trading while applying safeguards to avoid double counting of emissions reductions. Singapore has positioned carbon markets as an important complementary tool to support its national climate targets alongside domestic emissions reduction measures. Officials said the investment is intended to improve market integrity, reduce barriers to project development and expand access to credible climate financing opportunities. Singapore also became the first Asian country to contribute to the Global Green Growth Institute’s carbon transaction facility, joining broader international efforts to scale high-integrity carbon markets and accelerate climate action.
