SG and Mongolia to open carbon credit applications on 30 October

Authorised projects will generate carbon credits aligned with Article 6 of the Paris Agreement.

Singapore’s carbon tax-liable companies could soon use eligible credits from projects in Mongolia to offset up to 5% of their taxable emissions, as the two countries prepare to open applications for carbon credit projects on 30 October.

Authorised projects will generate carbon credits aligned with Article 6 of the Paris Agreement. To qualify under Singapore’s International Carbon Credit framework, the credits must meet the country’s eligibility criteria.

The application process will comprise three stages — project application, request for authorisation, and an application relating to the issuance and international transfer of carbon credits.

Eligible carbon credits may also be used to comply with binding commitments, including countries' Nationally Determined Contributions and other international mitigation purposes.

Minister of State for Manpower and Energy, Trade and Industry Foo Cexiang announced the opening of the application process at the Mongolia-Singapore Business Forum on 8 October.

This will be the sixth implementation agreement under which Singapore has opened applications for carbon credit projects, following those with Ghana, Bhutan, Peru, Rwanda, and Thailand.

Singapore and Mongolia signed the legally binding agreement on 6 October 2025 to establish a framework for carbon credit cooperation under Article 6 of the Paris Agreement.

Both governments will jointly review applications on a rolling basis. 

Details on the application process will be available on Singapore’s Carbon Markets Cooperation website from 30 October.