Singapore close to unveiling carbon credits whitelist: sources

THE SINGAPORE government is planning the imminent release of a list of acceptable carbon credits that companies may use to partially offset their taxable emissions, The Business Times has learnt.

The whitelist is expected to highlight eligible host countries, crediting programmes and methodologies. As previously announced, Singapore’s carbon tax will increase to S$25 per tonne in 2024 from S$5 currently. Companies will be able to use credits on the whitelist from 2024 to offset up to 5 per cent of their taxable emissions.

In response to BT’s queries, a spokesperson from the Ministry of Sustainability and the Environment (MSE) said it is “on track” to publish the list by the end of this year, with the introduction of the International Carbon Credits Framework.