Singapore and Philippines Sign First Article 6 Carbon Credit Agreement
Singapore and the Philippines have signed a landmark implementation agreement on carbon credit collaboration under Article 6 of the Paris Agreement, marking the first such deal for the Philippines. The agreement was formalised during ASEAN Climate Week in Manila, underscoring growing regional momentum around carbon markets and cross-border climate cooperation.
The deal was signed by Grace Fu, Singapore’s Minister for Sustainability and the Environment, and Juan Miguel T. Cuna, Secretary of the Philippines’ Department of Environment and Natural Resources. It establishes a legally binding framework that will enable the generation and transfer of carbon credits from mitigation projects aligned with Article 6 rules.
At its core, the agreement is designed to support the development of high-quality carbon credit projects in the Philippines, while allowing Singapore to access internationally transferred mitigation outcomes to help meet its climate targets. Developers operating under this framework will be required to adhere to established Article 6 methodologies, with further details on project approval processes and eligible standards expected to be released in due course.
Officials from both countries framed the agreement as a significant step in deepening bilateral cooperation on climate action. Singapore highlighted the potential to channel climate finance into impactful projects across the Philippines, while also opening up new opportunities for businesses and local communities to participate in carbon markets. The Philippines, for its part, described the agreement as a strategic move aligned with its national development priorities and broader commitment to global climate goals.
Beyond emissions reduction, the collaboration is expected to deliver wider economic and social benefits. Carbon mitigation projects developed under the agreement are intended to support sustainable development by creating jobs, improving energy security, and reducing environmental pollution. The initiative also reflects a broader push within Southeast Asia to leverage carbon markets as a tool for financing the transition to low-carbon economies.
The agreement signals increasing interest in operationalising Article 6 mechanisms, which allow countries to cooperate on emissions reductions while maintaining environmental integrity. As more nations explore similar partnerships, the Singapore–Philippines deal may serve as a model for how regional collaboration can unlock climate finance and accelerate decarbonisation efforts.
