Singapore Authorizes First Carbon Credit Project in Rwanda
- Reports
- 2
- Developments
- 2
- Repetition
- 0%
New informationRepeats or wire copies
What happened
Singapore authorized its first carbon credit project with Rwanda, which is governed by a legally binding framework under Article 6 of the Paris Agreement. The project, overseen by the National Environment Agency, involves distributing 300,000 water filters to about 1.8 million people in Rwanda. This initiative is set to mitigate around 780,000 tonnes of CO2 equivalent between 2026 and 2030.
Why it matters
Carbon-tax liable firms in Singapore could purchase eligible carbon credits generated by the water purification project to offset up to 5 per cent of their taxable emissions. This mechanism allows the city-state to use credits from partner countries to meet its national climate targets.
From straitstimes.com
Who's involved
- RwandaHost country where the water purification project is located and where project authorization was issued.
- SingaporeAuthorized the carbon credit project and has carbon-tax liable companies that can use the resulting credits.
- National Environment AgencyThe government agency of Singapore that is overseeing the water purification project in Rwanda.
Who could feel it
Possible knock-on effectsThese are possibilities Brind reasoned out, not predictions, and not advice. Most are not stated in any report.
- SingaporeSpeculative
Carbon-tax liable firms might reduce operational costs by purchasing eligible carbon credits to offset taxable emissions.
Possible ripples
Who this could reach next, traced step by step from the reporting. Possibilities worth considering, not forecasts.- Singapore project operationalizes Paris Agreement carbon rulesSingapore's carbon project operationalizes Paris Agreement rulesAlready happening
- Rwanda's government may benefit from Singapore carbon credit dealRwanda's government gains climate finance and supports national targets through Singapore carbon dealLikely
- Rwanda's environmental authority oversees new carbon mitigation projectRwanda Environment Management Authority gains oversight of major international carbon projectLikely
How it developed
Newest first. Tap a step to see who reported it.Singapore authorizes carbon project in Rwanda; NEA oversees water project.1 source
Singapore expands carbon credit cooperation to include Ghana alongside Rwanda.1 source
Keep exploring
The entities involved
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Rwanda
country in East Africa
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Singapore
sovereign island country and city-state in maritime Southeast Asia
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National Environment Agency
government agency of Singapore
Nothing else this week.
Related events
- High-level Singaporean officials, including Gan Kim Yong and K. Shanmugam, participated in a meeting with the National Environment Agency.
- Resorts World Sentosa and Honeywell launched a co-innovation initiative to help RWS achieve carbon neutrality by 2030 in Singapore.
- Rwanda and UNESCO are collaborating with the Ministry of Education to scale up sustainability education efforts.
- China provides long-standing support for Rwanda's development and infrastructure projects.
- Singapore launched a climate change initiative via its Secretariat and collaborated with MAS on a related fund.