Renewable energy, carbon credits are priority areas of cooperation for Singapore, Philippines: Lawrence Wong

The two leaders also agreed to accelerate efforts to achieve a power grid for the Association of Southeast Asian Nations (ASEAN), an integrated system to enable power sharing and improve cross-border electricity trade.

“This will improve energy resilience in the region and support ASEAN’s green transition,” said Mr Wong, who was making his first bilateral visit since this year’s General Election.

For carbon credits, the two countries signed a memorandum of understanding last August, and officials are working toward finalising a legally binding Implementation Agreement aligned with Article 6 of the Paris Agreement.

“This will facilitate commercial participation in carbon credits projects, which can spur technology transfer, green investments and create good jobs,” he said.