Singapore Partners with Tanzania to Advance Carbon Credit Cooperation

The agreement was signed by Alvin Tan, Singapore’s Minister of State for Trade and Industry and National Development, and Hamad Yussuf Masauni, Tanzania’s Minister of State for Union Affairs and Environment, during Singapore President Tharman Shanmugaratnam’s official visit to Tanzania.

The signing ceremony was witnessed by President Tharman Shanmugaratnam and Tanzanian President Samia Suluhu Hassan.

Under the agreement, the two countries will explore ways to cooperate on carbon markets, helping to attract funding for climate-related projects and support sustainable development initiatives.

Singapore and Tanzania will now work on creating a legally binding agreement that will allow the approval and international trading of carbon credits under Article 6 of the Paris Agreement.

As part of this framework, both countries will identify climate projects that meet Article 6 requirements and support their national climate goals (NDCs). The agreement will also focus on ensuring that these projects deliver real environmental benefits.

Alvin Tan said the partnership shows both countries’ commitment to building trustworthy and transparent carbon markets while encouraging more climate-related investment.

He added that cooperation in carbon markets can help attract funding for emissions-reduction projects and create new opportunities linked to the green economy and sustainable development.

The agreement comes after Singapore pledged $19.2 million (US$15 million) to the Global Green Growth Institute’s Carbon Transaction Facility. This initiative supports the development of Article 6 carbon markets and strengthens international carbon trading systems.

With this contribution, Singapore became the first Asian country to join the facility, alongside countries such as the United Kingdom, New Zealand, Norway, and Sweden.

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