Singapore and Mongolia open carbon project applications under their Article 6 Implementation Agreement

Context

• Applications open this month for projects seeking authorisation under the Singapore–Mongolia Article 6 partnership.
• The Implementation Agreement was signed on 6 October 2025 by Singapore’s Minister for Sustainability and the Environment Grace Fu and Mongolia’s Minister of Environment and Climate Change Batbaatar Bat, with Deputy Prime Minister Gan Kim Yong and First Deputy Prime Minister Uchral Nyam-Osor also signing.
• It was Singapore’s 10th such agreement, following Papua New Guinea, Ghana, Bhutan, Chile, Peru, Rwanda, Paraguay, Thailand and Vietnam.
• The agreement sets out a legally binding framework for generating and transferring credits from Article 6-aligned mitigation projects, with details of the authorisation process and eligible methodologies to be published later. This month’s call is that next step.
• Built-in integrity terms: Singapore will channel the value of a 5% share of proceeds from authorised credits to climate adaptation in Mongolia, and will have 2% of correspondingly adjusted credits cancelled at first issuance.
• It follows earlier project calls. Singapore launched its first call under the Ghana agreement on 30 September 2024 and opened rolling applications for Peru from 24 October 2025, reviewed jointly by both governments.

Why it matters

• For developers: Mongolia moves from “agreement signed” to “open for business.” Authorisation under a bilateral agreement is the gate that turns a project’s output into a corresponding-adjusted credit Singapore can buy. Early applicants are best placed to be authorised in time for Singapore’s procurement rounds.
• For buyers and corporates: Demand is real and comes from two sources. Singapore buys credits for its NDC through government tenders. Separately, Singapore firms can use eligible credits to offset up to 5% of their carbon tax obligations. Mongolian supply can now enter both channels.
• For investors: Singapore runs a repeatable process: agreement, then a project call, then an RFP. The Ghana–Peru–Mongolia sequence shows a pipeline that turns agreements into deals. Even so, the time from application to first issuance is still measured in years, so capital should be priced for authorisation and MRV risk.
• For governments: The 5% share of proceeds and 2% overall mitigation (OMGE) terms show what a host-country deal can look like. Mongolia’s ability to process applications quickly, with clear corresponding-adjustment accounting and registry tracking, will test its readiness and set its reputation with future buyers.
• What to watch: The published list of eligible methodologies and sectors, application deadlines or whether review is rolling, the first projects authorised, and whether Mongolian projects show up in Singapore’s next RFP.