Singapore Seeks African Carbon Credits as Most Covet Metals
An area of dense primary forest in the Loango National Park, Gabon. Africa has the world’s second-biggest tropical forests after South America.
Photographer: Guillem Sartorio/BloombergChina, India and the US want Africa’s critical minerals. Singapore’s main target is different: the continent’s carbon offsets.
The Southeast Asian city-state aims to increasingly tap African countries for carbon credits as part of a drive to boost trade with the continent and meet its own net zero ambitions. At the same time it’s seeking to establish itself as a carbon-trading hub for Asian companies seeking to buy the offsets to meet their climate targets.