Grace Fu wraps up debate on Carbon Pricing (Amendment) Bill

Singapore’s international carbon credits (ICCs) framework will be underpinned by a set of robust criteria to ensure that carbon credits that can be used by companies to offset up to five per cent of their taxable emissions are of high environmental integrity. Sustainability and the Environment Minister Grace Fu gave this assurance in Parliament on Tuesday (Nov 8). She said the criteria will “minimally be aligned” to the CORSIA standards which are among the most rigorous in the world. Singapore will publish a white list of acceptable ICCs, highlighting eligible host countries, carbon crediting programmes and methodologies. This will give companies and the public more clarity on what Singapore’s eligibility criteria entails. A tender will also be called to develop an ICC Registry to serve as a record-keeping system to track and account for the use of ICCs. Ms Fu rounded up the debate on the Carbon Pricing (Amendment) Bill and answered further clarifications sought by MPs. The Bill was then passed.