Memorandum of Understanding In 2022, The National Environment Agency of Singapore (NEA) and Gold Standard signed a Memorandum of Understanding that enables Singapore-based companies to use eligible Gold Standard credits to fulfil a portion of their compliance obligations under the Singapore carbon tax regime.
This agreement marked a new and innovative approach for collaboration between crediting programmes and governments in the Paris Agreement era, with credits used towards compliance obligations intended to be accounted for by Singapore under Article 6 of the Paris Agreement.
Gold Standard continues to work with the NEA to enable robust procedures to manage the transfer of information on the retirement and use of credits between the Gold Standard registry and the national registry of Singapore, to ensure transparency, integrity, and alignment with Article 6 rules.