Vietnam-Singapore carbon credit pact: A defining test for Asean green finance
More than a bilateral deal, this collaboration is a test for both countries to anchor themselves in the global carbon economy
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ON SEP 16, Vietnam and Singapore signed a landmark Implementation Agreement on carbon credit trading under Article 6 of the Paris Agreement.
The agreement is a breakthrough for both countries. Singapore is able to secure access to high-quality credits to meet its carbon neutrality targets. For Vietnam, it unlocks a new financing channel for its green transition.
The deal signals the two countries’ ambition to shape Asean’s emerging carbon credit architecture.
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