Singapore and Rwanda open applications for carbon credit projects under bilateral implementation agreement

26 February 2026

On 30 January 2026, the Ministry of Trade and Industry (“MTI”), the National Climate Change Secretariat, the National Environment Agency, and the Ministry of Sustainability and the Environment jointly issued a press release announcing that Singapore and Rwanda have launched an application call for carbon credit projects under their Implementation Agreement on carbon credits cooperation. This is Singapore’s fourth call for project applications, following earlier calls under bilateral Implementation Agreements with Ghana, Peru, and Bhutan. 

Authorised projects, i.e. those approved further to this call for applications, will be able to benefit from additional carbon mitigation projects in Rwanda and advance both countries’ climate ambitions through targeted financing. These projects will promote sustainable development and benefit local communities through job creation, clean water access, improved energy security, and reduced environmental pollution.

Authorised projects can generate carbon credits aligned with Article 6 of the Paris Agreement. Under Singapore’s International Carbon Credit (“ICC”) Framework, these credits will be eligible for use by Singapore-based carbon
tax-liable companies to offset up to 5% of their taxable emissions. 

Application and authorisation process 

Interested parties may submit applications for their carbon credit projects in Rwanda to be authorised. 

The application and authorisation 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 credit 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. 

Applications submitted will be reviewed by the Singapore and Rwanda Governments in accordance with each country’s respective requirements. For Singapore, these projects must meet Singapore’s eligibility criteria for ICCs, which is set out in Annex B to the press release together with a list of eligible carbon crediting programmes and methodologies under the Singapore-Rwanda Implementation Agreement. This information as well as detailed steps on the application process can be found on Singapore’s Carbon Markets Cooperation website. 

Reference materials 

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