{"id":14540,"date":"2025-02-28T09:47:22","date_gmt":"2025-02-28T03:17:22","guid":{"rendered":"https:\/\/www.moenr.gov.bt\/?p=14540"},"modified":"2025-02-28T14:22:14","modified_gmt":"2025-02-28T07:52:14","slug":"press-release-on-bhutan-and-singapore-sign-implementation-agreement-on-carbon-market-cooperation","status":"publish","type":"post","link":"https:\/\/www.moenr.gov.bt\/?p=14540","title":{"rendered":"Press Release on Bhutan and Singapore Sign Implementation Agreement on Carbon Market Cooperation"},"content":{"rendered":"

Singapore, February 28, 2025<\/strong><\/p>\r\n

The Royal Government of Bhutan and the Government of the Republic of Singapore officially signed the Implementation Agreement on Carbon Market Cooperation in Singapore today. This milestone agreement strengthens bilateral collaboration under Article 6.2 of the Paris Agreement, facilitating Bhutan\u2019s participation in international carbon markets. Singapore is emerging as an important global hub for carbon trading and this partnership will allow the two countries to develop projects with sustainable development benefits and support towards raising environmental ambition through mitigation.<\/p>\r\n

The signing ceremony was attended by senior government officials from both countries and led by Lyonpo Gem Tshering, Ministry of Energy of Natural Resources, Bhutan, and Ms. Grace Fu Hai Yien, Ministry of Sustainability and Environment, Singapore. The agreement paves the way for cooperation between Bhutan and Singapore in implementing high-integrity carbon credit transactions that align with the goals of the Paris Agreement and Bhutan\u2019s commitment to maintaining carbon neutrality. This is the first Article 6.2 bilateral agreement after the Parties adopted the Article 6 rulebook in Baku after nine years of negotiations.<\/p>\r\n

Speaking at the event, Hon\u2019ble Minister Gem Tshering stated, \u201cBhutan has placed environmental conservation at the heart of our national identity, guided by our deep reverence for nature. As a carbon-negative country, we remain steadfast in our commitment to balancing economic progress with environmental integrity. Our Implementation Agreement with Singapore sends a powerful message on the importance of international collaboration on high-integrity carbon markets to address climate change. We believe that climate challenges can be met with innovative solutions that inspire hope and create green opportunities for all. We are pleased that our cooperation will reinforce Bhutan\u2019s long-standing vision of sustainable development\u2014one that conserves our forests, supports our communities, and ensures our planet continues to thrive for generations to come.\u201d<\/p>\r\n

Under this agreement, Bhutan and Singapore will work closely on the development and transfer of carbon credits that meet stringent international standards. The cooperation will contribute to Bhutan\u2019s long-term sustainability goals while enabling Singapore to fulfill its climate commitments through high-quality carbon credit investments.<\/p>\r\n

Hon\u2019ble Minister Ms. Grace Fu Hai Yien remarked, \u201cSingapore is pleased to partner with Bhutan, a carbon-negative country and a leader in environmental stewardship, to accelerate climate action through this Implementation Agreement. By working together on high-integrity carbon markets, we can drive sustainable growth, mobilize climate finance, and reduce global carbon levels. This collaboration strengthens our shared vision for a greener and more sustainable future and accelerate the global green transition.\u201d<\/p>\r\n

The signing of this Implementation Agreement builds on the Memorandum of Understanding (MoU) signed between the two countries in 2023 and is a testament to Bhutan\u2019s proactive engagement in global climate finance mechanisms. With this agreement, Bhutan is further positioning itself as a leader in sustainable development and international carbon market cooperation.<\/p>\r\n

For further inquiries, please contact:<\/p>\r\n


Chimi Dorji
Environment Officer
Department of Environment and Climate Change, MoENR
chimidorji@moenr.gov.bt<\/p>\r\n

 <\/p>\r\n

\"\"<\/a><\/p>\r\n","protected":false},"excerpt":{"rendered":"

Singapore, February 28, 2025 The Royal Government of Bhutan and the Government of the Republic of Singapore officially signed the Implementation Agreement on Carbon Market Cooperation in Singapore today. This milestone agreement strengthens bilateral collaboration under Article 6.2 of the Paris Agreement, facilitating Bhutan\u2019s participation in international carbon markets. Singapore is emerging as an important […]<\/p>\n","protected":false},"author":11,"featured_media":14561,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[344,3],"tags":[],"class_list":["post-14540","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-apa","category-latest-news"],"_links":{"self":[{"href":"https:\/\/www.moenr.gov.bt\/index.php?rest_route=\/wp\/v2\/posts\/14540","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.moenr.gov.bt\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.moenr.gov.bt\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.moenr.gov.bt\/index.php?rest_route=\/wp\/v2\/users\/11"}],"replies":[{"embeddable":true,"href":"https:\/\/www.moenr.gov.bt\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=14540"}],"version-history":[{"count":4,"href":"https:\/\/www.moenr.gov.bt\/index.php?rest_route=\/wp\/v2\/posts\/14540\/revisions"}],"predecessor-version":[{"id":14567,"href":"https:\/\/www.moenr.gov.bt\/index.php?rest_route=\/wp\/v2\/posts\/14540\/revisions\/14567"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.moenr.gov.bt\/index.php?rest_route=\/wp\/v2\/media\/14561"}],"wp:attachment":[{"href":"https:\/\/www.moenr.gov.bt\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=14540"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.moenr.gov.bt\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=14540"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.moenr.gov.bt\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=14540"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}