Singapore and Peru Launch Joint Call for Carbon Credit Projects
Singapore and Peru have launched a joint call for applications for carbon credit projects, allowing Singapore-based companies to source credits and offset their emissions.
These credits may be used by companies to offset their taxable emissions, as stated in
the Paris Agreement, Article 6, Paragraph 2.
- The call for projects is a result of an implementation agreement signed by the two nations on April 1.
- Authorised projects will generate international carbon credits (ICCs) that can be used by local carbon tax-liable companies to offset up to 5% of their taxable emissions.
For more information, read the full article at The Business Times.
Author's summary: Singapore and Peru launch carbon credit projects.