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SINGAPORE – Companies looking to use carbon credits to offset part of their carbon tax bill could soon have a wider range of options to choose from, with the authorities inking new agreements with two international carbon credit organisations.
The National Environment Agency (NEA), which oversees Singapore’s carbon tax regulations, said on March 2 that it has signed memorandums of understanding (MOUs) with the American Carbon Registry (ACR) and the Architecture for Redd+ Transactions (ART).
NEA has signed agreements with three other international carbon credit registries so far: Verra, Gold Standard and Global Carbon Council.
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