S’pore units eligibility standards for global carbon credit that companies can use to offset tax

S’pore units eligibility standards for global carbon credit that companies can use to offset tax

Singapore has set out its criteria for what it will consider “high-quality” international carbon credits. These are emission reductions or removals from overseas projects that companies in the city-state can use to offset up to 5% of their taxable carbon emissions, starting next year. To qualify, companies must meet seven criteria. Among them, emission offsets from overseas projects must be measured and verified by an independent third-party. The emissions removed or reduced must be irreversible, and they cannot be double-counted or claimed by more than one country.

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