Singapore and Rwanda Ink MoU to Collaborate on Carbon Credits

Singapore and Rwanda have signed a Memorandum of Understanding (MoU) to collaborate on carbon credits aligned with Article 6 of the Paris Agreement.

The memorandum was signed by Deputy Secretary (Industry) of the Ministry of Trade and Industry Keith Tan and Minister of Environment of Rwanda Dr. Jeanne d’Arc Mujawamariya on the sidelines of the 2023 United Nations Climate Change Conference (COP28) and announced alongside the launch of Rwanda’s Carbon Market Framework.

Under the MoU, both countries will collaborate on carbon credits aligned with Article 6.2 of the Paris Agreement and related carbon market initiatives.

This includes the exchange of best practices and knowledge on carbon market mechanisms, as well as the identification of mutually beneficial Article 6-compliant carbon credit projects that will support both countries in achieving their Nationally Determined Contributions (NDCs).

Keith Tan said: “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.”

Singapore aims to achieve net zero emissions by 2050 and is committed to advancing global climate action through international collaboration with like-minded partners.

To date, the city-state has concluded substantive negotiations on an Implementation Agreement with Ghana and Vietnam and has signed similar MoUs with Bhutan, Cambodia, Chile, Colombia, Dominican Republic, Indonesia, Kenya, Mongolia, Morocco, Papua New Guinea, Peru, and Sri Lanka.