Singapore Joins The Article 6 Implementation Partnership at COP27
Singapore has joined the Article 6 Implementation Partnership as a member country at COP27 in Sharm El-Sheikh, Egypt. Singapore is committed to support Article 6 implementations and foster international partnerships for carbon markets. Singapore’s participation in the Implementation Partnership reflects our continued commitment to advance positive global action for climate change.
Launched by the Ministry of the Environment, Japan (MOEJ) at the COP27 Japan Pavilion, the Partnership builds on the Paris Agreement Article 6 rule book and aims to advance the implementation of high integrity carbon markets through the coordination of international capacity building efforts around the world. This new initiative will also serve as an information platform for Article 6 implementation and provide the support required to pilot Article 6 initiatives.
Singapore will continue to facilitate the understanding of Article 6 rules and linkages with Nationally Determined Contributions (NDCs). As a carbon services and trading hub, Singapore can contribute to the development of baseline methodologies for carbon markets and the promotion of the use of transparency tools and national frameworks for carbon markets.
Minister for Sustainability and the Environment, Grace Fu, gave a keynote speech at the launch event and said “I am pleased that we are coming together to operationalise Article 6 at COP27 through complementary initiatives such as this Article 6 Implementation Partnership initiated by Japan. This will support the establishment of high-integrity carbon markets and provide new pathways to achieve the goals of the Paris Agreement. The progress on carbon markets, along with increasing support for investments in low-carbon technologies worldwide, had among others given Singapore the confidence to raise our national climate ambition and announce our commitment to achieve net-zero by 2050.”
Article 6 of the Paris Agreement governs the market and non-market cooperative mechanisms to facilitate the transfer of carbon credits between countries. The Article 6 rule book was finalised at COP26, following negotiations co-facilitated by Singapore and Norway. Article 6 will be a stepping stone that helps countries meet their Nationally Determined Contribution (NDCs) through the transfer of emissions reduction, while ensuring high standards of environmental integrity.