Singapore and Rwanda strengthen ties in the fight against climate change by signing an MOU at COP28, focusing on carbon credits aligned with the Paris Agreement
Singapore and Rwanda solidified their commitment to climate action by signing a Memorandum of Understanding (MOU) on carbon credits, in alignment with Article 6 of the Paris Agreement. The agreement was formalized during the 2023 United Nations Climate Change Conference (COP28) on December 2, 2023.
Deputy Secretary (Industry) of the Ministry of Trade and Industry, Mr. Keith Tan, and Rwanda’s Minister of Environment, Dr. Jeanne d’Arc Mujawamariya, were the signatories to the MOU. The signing ceremony took place on the sidelines of COP28 and coincided with the launch of Rwanda’s Carbon Market Framework. Senior Minister, Coordinating Minister for National Security, and Chairman of the Inter-Ministerial Committee on Climate Change, Teo Chee Hean, witnessed the event.
Under the terms of the MOU, both nations will collaborate on carbon credits, specifically focusing on Article 6.2 of the Paris Agreement and related carbon market initiatives. This collaboration includes the exchange of best practices and knowledge regarding carbon market mechanisms. Additionally, it involves identifying mutually beneficial Article 6-compliant carbon credit projects to support the achievement of each country’s Nationally Determined Contributions (NDCs).
Deputy Secretary (Industry) Mr. Keith Tan expressed his enthusiasm for the expanded collaboration, stating, “Singapore and Rwanda enjoy close collaborations across several areas such as trade, finance, and the digital economy. Today, we are delighted to expand our collaboration to high-quality carbon credits. This MOU signals both countries’ commitment to advancing climate ambition, with carbon markets as an enabler for positive climate action.”
Source – MTI
