Singapore: New pacts will give local firms wider range of credits to offset carbon tax bill

There are safeguards in place to ensure the credits truly certify a reduction in greenhouse gas emissions in the atmosphere, said NEA. - ST PHOTO: GIN TAY

SINGAPORE, March 26 (The Straits Times/ANN): Companies looking to use carbon credits to offset part of their carbon tax bill could soon have a wider range of options to choose from, with the authorities inking new agreements with two international carbon credit organisations.

The National Environment Agency (NEA), which oversees Singapore’s carbon tax regulations, said on March 2 it has signed memoranda of understanding (MOUs) with the American Carbon Registry (ACR) and the Architecture for Redd+ Transactions (ART).