Singapore signs carbon credit transfer agreement with Ghana

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🗞️ 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

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