At a glance
Programme detail
Summary
Agency
Monetary Authority of Singapore (MAS)
Status
Open
Track 1
Up to 50% support for up to three years; cap up to S$1.2 million
Track 2
Up to 70% support for one year; cap up to S$500,000
Application timing
Before starting the relevant activity
Scheme end
31 October 2028
What does it support?
Track 1 supports establishment or expansion of carbon-market teams. Track 2 concerns qualifying carbon-credit financing, trading, insurance and related transaction support. Companies should assess the actual capability or transaction proposed rather than assume every carbon-market activity qualifies.
Who can apply?
Financial institutions undertaking qualifying carbon-market activities are the identified applicants. Independent eligibility of non-financial-company purchasers of carbon-credit insurance remains subject to MAS confirmation. Confirm the complete applicant conditions, including any ownership requirements, with MAS.
How does the support work?
Track 1 can support up to 50% of qualifying costs for up to three years, with an award ceiling of S$1.2 million. Track 2 can support up to 70% for one year, capped at S$500,000. Each track has its own additionality, activity and transaction requirements.
What expenditure can qualify?
Track 1 covers qualifying manpower and rental costs for carbon-market capability development. Track 2 covers eligible transaction-related advisory, insurance and audit expenditure associated with carbon-credit activity. Detailed cost acceptance depends on MAS's assessment and the relevant track conditions.
Key conditions
- Apply before starting the relevant activity.
- Establish the required Singapore activity and additionality.
- Match the proposed costs and support period to the correct track.
- Confirm eligible transactions and counterparties with MAS.
- Obtain explicit eligibility guidance if the proposed applicant is not a financial institution.
Timing and application process
The scheme end is 31 October 2028. Contact [email protected] for the track-specific application process before commencing the proposed funded activity. No separate general opening date is specified.
Important programme distinctions
Building a carbon-market team and obtaining support for a qualifying carbon-credit transaction are distinct funding cases. The grant should not be presented as a universal subsidy for carbon-credit purchases, or the programme's S$15 million allocation as an individual funding entitlement.