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Permanent Secretary of the Ministry for Sustainability and the Environment Stanley Loh and Vice Minister of Strategic Affairs of the Ministry of Environment and Energy Carlos Isaac Pérez signed a Memorandum of Understanding between Singapore and Costa Rica to collaborate on carbon credits under Article 6 of the Paris Agreement on the sidelines of COP28. (Photo from COP28 Singapore Pavilion)
SG, Costa Rica to collaborate on carbon credits
The parties will identify mutually beneficial Article 6-compliant carbon credit projects.
Costa Rica has joined Singapore’s roster of partners on carbon credits aligned with Article 6.2 of the Paris Agreement and related carbon market initiatives.
The memorandum of understanding (MOU) inked by the parties provides that Singapore and Costa Rica will exchange best practices and knowledge on carbon market mechanisms.
The parties will also identify mutually beneficial Article 6-compliant carbon credit projects that will support both countries in achieving their Nationally Determined Contributions (NDCs).
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