Singapore and Peru invite applications for carbon credit projects under their implementation agreement

27 November 2025

Singapore and Peru have launched an application call for carbon credit projects under their implementation agreement on carbon credits cooperation. Announced by the Ministry of Trade and Industry (“MTI”) on 24 October 2025, this is Singapore’s second call for project applications, after the call for project applications under the Singapore-Ghana Implementation Agreement.

Authorised projects will unlock additional carbon mitigation options in Peru and advance both countries’ climate ambitions. Through targeted financing, these projects will also promote sustainable development and benefit local communities through job creation and reduced environmental pollution.

Authorised projects will generate carbon credits aligned with Article 6, paragraph 2 of the Paris Agreement. Under Singapore’s international carbon credit framework, these credits may be eligible for use by Singapore-based carbon tax-liable companies to offset up to 5% of their taxable emissions.

Application process

Interested parties may submit applications for their carbon credit projects in Peru to be authorised through Singapore’s Carbon Markets Cooperation website at www.carbonmarkets-cooperation.gov.sg.

The application process comprises three stages, each corresponding to a different stage of implementation for the carbon credit project. The first two stages require applicants to submit details on the design and implementation plan for the carbon credits project in the lead-up to project authorisation. The final stage is for corresponding adjustments to be applied to the carbon credits generated from the authorised project, in accordance with Article 6, paragraph 2 of the Paris Agreement.

Singapore and Peru will assess applications against each country’s respective requirements.

Reference materials

The press release is available on the MTI website www.mti.gov.sg.