COP31: Singapore authorises first carbon project with Rwanda for international emissions offsetting

Resumen detallado

Through this, around 780,000 tonnes of CO2 equivalent is set to be mitigated between 2026 and 2030

Through this, around 780,000 tonnes of CO2 equivalent is set to be mitigated between 2026 and 2030

[SINGAPORE] Singapore has authorised its first-ever carbon credit project under its bilateral carbon market agreements.

Rwanda is the first among partner countries to have a project approved to generate credits that could be used to offset the city-state’s national emissions, and those of carbon tax-liable companies.

The project is the first to be approved under a legally binding framework, known as an implementation agreement, signed by Singapore and Rwanda in May 2025. The framework governs the generation and transfer of carbon credits between the two countries under Article 6 of the Paris Agreement.

As required under Article 6, which governs rules on the bilateral and international transfer of carbon credits, Rwanda has also issued authorisation for the project.

This means that credits generated from the project can be used to meet Singapore’s climate targets, and that Rwanda, as the host country, will increase its reported emissions by the amount of carbon credits it has transferred to Singapore.

Known as a corresponding adjustment, this accounting mechanism is a core requirement under Article 6 to avoid double-counting – that is, having the same emissions reduction counted towards both countries’ climate targets.

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One carbon credit represents a reduction or removal of one tonne of carbon dioxide equivalent (tCO2e).

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