On August 19, 2025, Singapore and Thailand signed their first bilateral carbon credit transfer agreement under Article 6 of the Paris Agreement, making it Singapore’s first such deal with a Southeast Asian country. The agreement sets up a binding framework that allows Singapore to buy verified carbon credits from emission-reduction projects in Thailand, with proper accounting to avoid double counting. The pact was formalized at the 9th Singapore Regional Business Forum by Singapore’s Minister for Energy and Science & Technology, Dr. Tan See Leng, and Thailand’s Environment Minister, Chalermchai Sri-on. It builds on Singapore’s earlier deals with countries such as Ghana, Peru, Bhutan, and Rwanda, expanding its global network of carbon credit partnerships.
The collaboration aims to channel climate finance into projects in Thailand that cut emissions and support sustainable development, such as renewable energy, reforestation, clean transport, and flood resilience. For Singapore, the deal ensures a steady supply of high-quality carbon credits to help meet its climate targets, while Thailand benefits from new investment and technology transfer. The agreement also carries symbolic weight, coinciding with the 60th anniversary of Singapore–Thailand diplomatic relations, and is seen as a step toward deeper ASEAN cooperation on climate action and carbon markets. More