The Surge in Singapore’s Carbon Credit Market

In 2023, the Ministry of Sustainability, and the Environment (MSE) and the National Environment Agency (NEA) rolled out the Eligibility Criteria under the International Carbon Credit (ICC) Framework. Under Article 6 of the Paris Agreement, Singapore’s ICC Framework fosters global collaboration to attain climate sustainability objectives. Effective cooperation from international carbon markets will further boost Singapore’s goal to achieve net zero emissions by 2050.

In 2023, the market size of Singapore’s Carbon Credit reached US$ 14.5 million. Industry data shows that this is expected to jump to US$ 55.14 million by 2030, reflecting a compound annual growth rate (CAGR) of 21% from 2023 to 2030.

Source:

https://carboncredits.com/singapores-carbon-credit-market-surging-at-21-cagr