The Philippines and Singapore signed a landmark implementation agreement on carbon credits under the Paris Agreement, formalized during ASEAN Climate Week in Manila.
The deal establishes a legally binding framework for generating, verifying, and trading high-integrity carbon credits aimed at reducing greenhouse gas emissions.
Officials said the partnership will channel climate finance to the Philippines, support sustainable development, and create jobs while strengthening carbon market cooperation.
Singapore is also committed to allocating a portion of the proceeds to Philippine climate adaptation efforts and canceling a share of credits to ensure real emissions reductions.
Both countries said the agreement marks a major step in regional climate cooperation and positions ASEAN as a stronger player in global sustainability efforts.
Source: PhilNews24 | May 1, 2026
PHILIPPINES, SINGAPORE SIGN CARBON CREDITS AGREEMENT
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