Grant to support Article 6 Carbon Projects for Singapore

The Singapore Economic Development Board (EDB) has launched a new grant to support Singapore-based companies carrying out early-stage carbon project development and financing activities that could generate high-quality Article 6 carbon credits.

High quality carbon credits that are aligned with Article 6 of the Paris Agreement are one of the viable decarbonisation pathways for hard-to-abate sectors in Singapore. However, the global supply of such credits is limited, with early-stage financing gaps being one of the bottlenecks surfaced by project developers and investors.

The new grant, in its pilot phase, aims to address this lack of financing and spur the development of and investment in more carbon projects, including those in Southeast Asia.

Established carbon project developers with past success in developing high-quality carbon credit projects are eligible to apply for the grant. They will be expected to anchor a carbon project development team in Singapore to undertake the development of early-stage carbon projects. These projects must meet the criteria set out under Singapore’s International Carbon Credit (ICC) Framework and be undertaken in countries that Singapore has existing carbon credit collaborations with, that are aligned with Article 6 of the Paris Agreement.

This initiative is part of Singapore’s efforts to develop itself into a vibrant carbon services and trading centre in the heart of Asia that is home to more than 120 firms across the carbon management value chain.

Learn more about how carbon service businesses are using Singapore as a springboard to capture Asia’s green growth opportunities.

Find out more here.