15-8-2023 (SINGAPORE) Singapore and Chile have signed a Memorandum of Understanding (MOU) to collaborate on carbon markets and carbon pricing. The MOU was signed on Monday by Beh Swan Gin, Permanent Secretary (Development) of Singapore’s Ministry of Trade and Industry, and Alex Wetzig, Secretary General of Foreign Policy of Chile’s Ministry of Foreign Affairs, during Wetzig’s visit to Singapore.
The agreement aims to promote cooperation between the two countries in the field of carbon credits and related carbon market initiatives. This includes identifying mutually beneficial projects and sharing best practices on carbon services and trading ecosystem development. Additionally, Singapore and Chile will explore opportunities for collaboration in carbon markets with third countries.
“Singapore and Chile share warm and longstanding bilateral ties, and are committed to working together to advance climate action and ambitions,” said Beh Swan Gin. He expressed his hope that the agreement will lead to increased climate investments, job creation in the green economy, and technology collaboration between the two countries.
The collaboration between Singapore and Chile in the area of carbon markets demonstrates their shared commitment to addressing climate change and promoting sustainable development. By working together, the two countries can leverage their expertise and resources to accelerate the transition to a low-carbon economy and mitigate the impacts of climate change.
This MOU is a significant step towards strengthening international cooperation on climate action and underscores the importance of global partnerships in addressing the urgent challenges posed by climate change. The collaboration between Singapore and Chile serves as an example of how countries can join forces to tackle climate change and achieve their climate goals.
As countries around the world ramp up their efforts to combat climate change, collaboration on carbon markets and carbon pricing becomes increasingly important. By sharing knowledge, experiences, and resources, countries can drive innovation, attract investments, and create sustainable jobs in the green economy.
Singapore and Chile’s partnership on carbon markets sets a positive example for other nations to follow. It demonstrates the willingness of countries to work together towards a common goal of reducing greenhouse gas emissions and building a more sustainable future.
