Singapore working on guidelines for carbon credits

Singapore

BUSINESSES engaged in trading carbon credits can look forward to more regulative efforts by the government in future, including taxonomy and guidelines on the quality of carbon credits, Second Minister for Trade and Industry Tan See Leng said in Parliament on Tuesday. The government is also exploring the use of technology to improve the verification of the credits and establish a marketplace to improve transparency in carbon credit transactions.

In view of Singapore's import of the first carbon-neutral liquefied natural gas cargo, East Coast GRC MP Cheryl Chan asked how the government would monitor the carbon credits used to offset the greenhouse gas emissions of each cargo.