Singapore and Chile have signed a new Implementation Agreement to work together on carbon credit projects under the Paris Agreement, aiming to advance their climate goals.
Singapore and Chile signed an Implementation Agreement today to collaborate on carbon credit projects under Article 6 of the Paris Agreement. The agreement was signed by Singapore’s Minister for Sustainability and the Environment and Minister-in-Charge of Trade Relations, Grace Fu, and Chile’s Minister of Foreign Affairs, Alberto van Klaveren, who is visiting Singapore from 6 to 8 April 2025.
This is Singapore’s fifth such agreement, following similar ones with Papua New Guinea, Ghana, Bhutan, and Peru.
The Implementation Agreement will allow both countries to develop and transfer carbon credits through projects that reduce emissions. These projects will follow international rules under the Paris Agreement. Once the agreement is ratified, developers will be able to start carbon mitigation projects that bring real climate benefits.
Minister Grace Fu highlighted the strong partnership between Singapore and Chile, noting their past collaborations on trade and digital economy agreements. She said the new agreement would support Singapore’s climate targets while bringing investment to Chile.
Minister van Klaveren said both countries are showing leadership in climate action and that the agreement will help both the public and private sectors work together to fight climate change.
The projects under this agreement are expected to bring benefits to local communities in Chile, such as job creation, clean water access, better energy security, and less pollution.
Source – MTI
