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In a landmark move, Singapore’s National Climate Change Secretariat (NCCS), together with Gold Standard and Verra, has launched a unified protocol that enables governments to use private-sector crediting programmes to meet their obligations under Article 6.2 of the Paris Agreement.
Bridging Voluntary and Compliance Markets
Rather than requiring governments to design bespoke national crediting schemes from scratch, the protocol allows them to tap into the verification frameworks already used by voluntary programmes. This offers speed for policymakers, and clarity for project developers and investors.
Standardised Procedures for Integrity
The protocol specifies how authorisations, first‐transfers, retirements, registry labelling and corresponding adjustments should be handled — with the aim of avoiding confusion over whether credits are directed at NDC compliance or voluntary corporate claims.
From COP28 to Practical Rollout in 2025
Emerging from consultations initiated around COP28 in Dubai and refined through 2024, the protocol now moves into a pilot phase in 2025. Governments collaborating under this framework will test data flows, registry coordination and governance models to operationalise cross-border mitigation outcomes.
For corporates and investors, this development signals a clearer path to convergence between voluntary and regulatory carbon markets. It suggests that companies with offset-based decarbonisation strategies should closely monitor how Article 6.2 infrastructures evolve — including governance, credit quality and labelling.
The next phase will explore longer-term governance models, dedicated identifiers for internationally transferred mitigation outcomes (ITMOs), mechanisms for managing “shares of proceeds,” and a data protocol with common reporting fields. How widely the protocol is adopted will determine whether it becomes the backbone of a more consistent global carbon market — or whether divergent national systems persist.
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