Singapore injects $19.2m into global facility for Article 6 carbon push

It is the first Asian CTF contributor, joining the UK, New Zealand, Norway, and Sweden.

Singapore has committed $19.2m (US$15m) to the Global Green Growth Institute’s (GGGI) Carbon Transaction Facility (CTF) to support the development of international carbon markets under Article 6 of the Paris Agreement.

The contribution will be split across two facilities, according to a statement by the Ministry of Trade and Industry.

Of the amount, $6.4m (US$5m) will go towards an Article 6 Readiness Facility to help member and partner countries build the institutional and technical capabilities needed to participate in carbon markets.

The remaining $12.8m (US$10m) will establish the Singapore Article 6 carbon facility to finance carbon credit projects for the country’s climate targets.

The government said the move is intended to address barriers that have slowed the growth of Article 6 carbon markets, including high transaction costs, limited institutional capacity in host countries, and insufficient funding for project development.

The CTF, launched by GGGI in October 2024, is designed to enhance Article 6 cooperation by providing readiness support and dedicated funding for high-integrity carbon credit projects.

"Through the CTF, we work closely with governments to put in place the systems, policies, and partnerships that move countries from readiness to results," Sang-Hyup Kim, Executive Director, GGGI, said.

Singapore is the first Asian country to contribute to the facility, joining the UK, New Zealand, Norway, and Sweden, Minister of State for Trade and Industry Alvin Tan announced at the GenZero Climate Summit 2026.

$1 = US$0.78