Singapore allows 2025 carbon quotas to carry forward amidst supply crunch
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Singapore will permit carbon tax-liable companies to carry forward unused International Carbon Credit (ICC) offset quotas from 2025 to 2026 due to a limited supply of eligible credits. Companies can offset up to 5% of taxable emissions under the ICC framework. The rollover is a transitional measure as the carbon tax increases to $45 per tonne in 2026. Offsets from 2024 to 2025 will expire and cannot be carried forward. Singapore aims to expand the supply of eligible ICC through international carbon credit projects in various countries.
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