Singapore's Article 6 pipeline is open — what it changes for voluntary buyers
From this quarter, eligible overseas credits can be used against the carbon tax, up to 5% of taxable emissions. We have started flagging the listings that qualify.
Singapore's carbon tax rose to S$45 per tonne of CO₂-equivalent this year, and the International Carbon Credits framework that runs alongside it is now live. Companies with taxable emissions can surrender eligible credits for up to 5% of their liability, provided the credits meet the government's eligibility criteria.
The practical effect for buyers is a single question: does a given tonne count toward compliance, toward a voluntary claim, or both? Credits used against the tax cannot also be counted in a voluntary inventory, and they must carry a corresponding adjustment so the reduction is not claimed twice.
Carvanta has added a compliance-eligibility flag to every listing. Each project now states whether it is registered under a recognised standard, whether it is authorised for international transfer, and the vintage window it covers. The flag is set from registry records rather than supplied by the developer alone.
"The compliance and voluntary markets have been running on parallel rails for years," said a spokesperson for the platform. "Buyers increasingly want one tonne that stands up to both. That is mostly a data problem, and it is one we can solve at the listing level."
The framework caps tax-eligible use well below what most corporate buyers need to reach their own targets. Carvanta's guidance is to treat the 5% ceiling as a floor for compliance and to keep the remainder firmly in the voluntary ledger, where retirement records and co-benefit claims are preserved.