Singapore's Ministry of Sustainability and the Environment has issued a release on the eligibility criteria for carbon credits under the International Carbon Credit (ICC) Framework that can be used by local companies to offset their emissions liable under Singapore's carbon tax regime. This ICC Framework will allow carbon tax-liable companies to use eligible ICCs to offset up to 5% of their taxable emissions from 1 January 2024. The current carbon tax rate is SGD 5 per tonne of emissions, wh…