Singapore-based companies noco-noco, a decarbonisation solutions provider, and LNG Alliance, a liquified natural gas infrastructure project development firm, have signed a non-binding agreement allowing LNG Alliance to potentially purchase carbon credits from noco-noco's projects in Papua New Guinea (PNG). noco-noco's REDD+ deforestation avoidance projects in PNG are estimated to produce nearly 159 million carbon credits annually. The proposed agreement would span five years and mark the first such offtake deal for noco-noco. This development comes as global demand for carbon credits has grown significantly, driven by sustainability goals.

Source: esgnewsasia