The Governments of Singapore and Indonesia have signed a climate change partnership to co-develop clean technologies as well as execute pilot projects related to land and sea ecosystems. Carbon pricing and markets, nature-based solutions and ecosystem-based approaches, clean technology and solutions, and green and blended finance are four major areas where the two countries will engage.
Both the governments will design a work plan that includes pilot projects, research collaborations, and technical exchanges. Both nations will also look into funding options for carbon credit projects, carbon capture and storage (CCS), and the development of renewable energy (RE) alternatives to help the SEA region’s decarbonisation plans.
They will also exchange best practices and collaborate on initiatives linked to implementing Article 6 of the Paris Agreement, which calls for the creation of an international carbon market to assist nations in meeting their emissions reduction commitments.
