Bangladesh and Singapore sign carbon market cooperation pact at COP31

Bangladesh and Singapore have entered into a formal partnership to strengthen cooperation in international carbon markets. The two nations signed a Memorandum of Understanding (MoU) on Saturday to align their efforts under Article 6 of the Paris Agreement.

The agreement was finalised at the Singapore Pavilion during the 31st United Nations Climate Change Conference (COP31), which is currently taking place in Antalya, Türkiye. This collaboration is designed to facilitate the exchange of knowledge, expertise, and information regarding carbon credits between the two countries.

Beyond the sharing of technical insights, the MoU establishes a framework for the two nations to explore joint initiatives aimed at reducing greenhouse gas emissions. These projects will be developed based on mutual interests and shared benefits.

Officials indicate that the initiative is expected to support Bangladesh's ongoing transition toward sustainable, low-carbon development. By engaging in this international carbon market framework, the country aims to enhance its capacity to achieve its national climate targets.