AKIPRESS.COM - Singapore and Mongolia signed a Memorandum of Understanding (MOU) to collaborate on carbon credits.

The MOU signals Singapore's and Mongolia's intent to collaborate on carbon markets, aligned with Article 6 of the Paris Agreement, which allows countries to voluntarily cooperate to achieve emission targets set out in their Nationally Determined Contribution (NDC), while promoting sustainable development and environmental integrity.

The MOU was signed by Minister for Sustainability and the Environment of Singapore Grace Fu and Mongolia's Minister for Environment and Tourism Bat-Erdene Bat-Ulzii.

The Ministry of Sustainability and the Environment of Singapore will establish an interagency working group with Ministry of Environment of Monolia to implement this MOU.