A list of project proposals that qualify for carbon trading was made public by MoENR. These initiatives support the nation’s plan to cut greenhouse gas emissions and achieve the Paris Agreement’s climate goals. Concurrent with the announcement, Bhutan and Singapore signed a historic implementation agreement under Article 6.2 of the Paris Agreement. Senior officials from both countries attended the signing event in Singapore. According to a news statement from MoENR, Singapore is becoming a global center for carbon trading, and this relationship will allow both nations to create projects that will enhance sustainable development and encourage environmental ambition through mitigation.
The projects on the positive list also include low-carbon transportation, alternative fuels including biofuels and green hydrogen, and sustainable agriculture that reduce emissions. Moreover, projects on the good list include afforestation, reforestation, wetland and rangeland restoration, and livestock management programs that are essential to reducing greenhouse gas emissions. Climate Change Coordination Committee provided direction during the consultative process that produced the affirmative list, which was approved at the National Environment Commission’s Second Meeting on February 6, 2025. After the Singapore-Bhutan Carbon Cooperation Implementation Agreement was signed. In order to investigate prospects for creating carbon projects, raising carbon finance, and expanding Bhutan’s climate ambition, the event brought together more than 31 investors, project developers, and climate finance specialists from 21 organizations.
