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While global powers like the US, China, and India compete for Africa’s critical minerals, Singapore is pursuing a different kind of treasure: carbon credits. The island nation is strategically partnering with African countries to secure these vital offsets, which are key to achieving its ambitious net-zero goals. The city-state, constrained by limited land for large-scale carbon projects, sees Africa as a vital partner in green initiatives that generate tradable credits. These offsets can either help Singapore lower its emissions—currently around 49 million tons annually—or be sold through its growing carbon-trading hub. Agreements are already in place with six African nations, including Rwanda and Ghana, where projects range from restoring cocoa-growing forests to community-driven conservation. The strategy boosts Singapore’s green credentials and underscores Africa’s increasingly prominent role in global climate solutions.
Bloomberg