Phl seeks to finalize carbon credit pact with Singapore

The Philippines aims to finalize a legally binding carbon credit implementation deal with Singapore by the end of the year, a move expected to bring in proceeds from carbon trading while supporting sustainable development.

- By ALDEN MONZON

Environment Secretary Raphael Lotilla noted the target timeline for when the country could sign the Reducing Emissions from Deforestation and Forest Degradation (REDD+) carbon credit deal with Singapore, building on previous discussions between the two countries.

“The target is to finish negotiations by this year and the signing is targeted during the chairmanship of the Philippines in (Association of Southeast Asian Nations), which is early next year,” Lotilla told lawmakers during the budget hearing for the agency at the Senate.