background image

Singapore signs carbon credit transfer agreement with Ghana

author image

By illuminem briefings

· 1 min read

illuminem summarizes for you the essential news of the day. Read the full piece on The Business Times or enjoy below:

🗞️ Driving the news: Singapore has signed a carbon credits transfer agreement with Ghana, enabling Singaporean corporations to offset 5% of their taxable emissions through a new pool of carbon credits

🔭 The context: This agreement, signed by Singapore’s Minister for Sustainability and the Environment Grace Fu and Ghana’s Environment Minister Ophelia Hayford, aligns with Article 6 of the Paris Agreement
• Ghana will increase its reported emissions by the transferred amount to avoid double counting

🌍 Why it matters for the planet: The deal promotes sustainable development and climate adaptation in Ghana, supporting global mitigation efforts and providing local benefits such as job creation, clean water access, and improved energy security

⏭️ What's next: Only carbon credits from projects approved under the International Carbon Credit (ICC) Framework are eligible
• The agreement facilitates future collaborations between Singapore and Ghana in sustainability efforts

💬 One quote: “Singapore will continue its efforts to work with like-minded partners like Ghana to co-create opportunities for a sustainable future,” said Minister Grace Fu

Click for more news covering the latest on carbon market

Did you enjoy this illuminem voice? Support us by sharing this article!
author photo

About the author

illuminem's editorial team - providing you with concise summaries of the most important sustainability news of the day.

Follow us on Linkedin, Twitter​ & Instagram

Other illuminem Voices

Related Posts

You cannot miss it!

Weekly. Free. Your Top 10 Sustainability & Energy Posts.

You can unsubscribe at any time (read our privacy policy)