Singapore enhances Article 6 carbon markets by committing US$15 million to GGGI’s Carbon Transaction Facility and establishes Singapore Article 6 Carbon Facility

30 July 2026

On 19 May 2026, the Ministry of Trade and Industry (“MTI”) announced that Singapore has joined the Global Green Growth Institute’s (“GGGI”) Carbon Transaction Facility (“CTF”), contributing US$15 million to strengthen international collaboration on high-integrity Article 61 carbon markets and scale climate action.

GGGI is a treaty-based international, inter-governmental organisation dedicated to supporting and promoting strong, inclusive, and sustainable economic growth in developing countries and emerging economies. The CTF, launched by GGGI in October 2024, is designed to make Article 6 cooperation a practical reality by providing readiness support and dedicated funding for high-integrity Article 6 carbon credit projects. Singapore is the first country in Asia to contribute to the CTF, alongside the UK, New Zealand, Norway, and Sweden.

Singapore’s US$15 million contribution will be deployed across two facilities. US$5 million will be directed to an Article 6 Readiness Facility, which builds the capacity of GGGI member and partner countries to participate effectively in Article 6 carbon markets. The remaining US$10 million will establish the Singapore Article 6 Carbon Facility, which will finance the development of Article 6 carbon credit projects, with the credits generated to be used towards Singapore’s own climate targets.

Reference materials

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