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How Does Singapore Ensure High-Quality Carbon Credits?

Singapore will be raising its carbon tax progressively over the next few years. This tax applies to all facilities that create at least 25,000 tonnes of greenhouse gas emissions yearly.

Related Read: How Will the Rising Singapore Carbon Tax Impact Manufacturers?

Leveraging Carbon Credits to Reduce Carbon Tax Liabilities

From 2024, companies in Singapore can use international carbon credits to offset up to 5% of their taxable emissions.

Carbon credits are usually created via activities that endeavour to reduce, eliminate, or avoid carbon emissions. It is a type of certificate that signifies a reduction of one tonne of carbon dioxide emission.

Get Support With Carbon Credits

In order to ensure that these carbon credits are of significant environmental quality, the government has produced 7 principles that every project must adhere to.

The new criteria allude to global standards, including that of one of the industry’s strictest standards, the Carbon Offsetting and Reduction Scheme for International Aviation (CORSIA).

In this infographic, we take a quick look at the new principles that your company should take note of.

Quick Guide to the 7 New Principles for High-Quality Carbon Credits

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Let InCorp help you leverage carbon credits to its fullest!

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InCorp Content Team

InCorp's content team includes talented copywriters from our regional group and globally. We contribute informative, thought leadership, and market-trending articles to guide aspiring business entrepreneurs to a higher level across the Asia-Pacific region.

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