Our Co-Heads of Sustainability & Responsible Business, Tiong Teck Wee and Quak Fi Ling recently contributed to an article to IFLR1000 on the “Risks and Challenges in Offsetting Carbon Tax in Singapore”.
The article addressed key considerations in the use of International Carbon Credits (ICCs) to offset carbon tax in Singapore including the importance of ensuring the integrity and quality of the ICCs, the need for a robust due diligence process, and contractual protections when purchasing carbon credits. The article also highlights key developments at the recent COP 29 on the rules and guidelines for carbon credit trading under Article 6 of the Paris Agreement.
With carbon markets playing a growing role in sustainability strategies, understanding these issues is vital for businesses striving to meet their sustainability goals and comply with regulatory requirements.
Click here to read the full article.