First High-quality Carbon Credit Platform
The Singapore Economic Development Board (SEDB) launches the Singapore Carbon Market Alliance, the first high-quality carbon credit platform in Singapore that complies with Article 6 of the Paris Agreement, aimed at helping businesses achieve climate goals.
In 2024, Singaporean companies are allowed to use international carbon credits to offset taxable carbon emissions, and obtaining high-quality carbon credits is crucial for companies with relatively slow emission reduction paths. The Singapore Carbon Market Alliance connects international carbon credit providers with companies interested in high-quality carbon credits, creating an attractive carbon service and trading hub in Asia. The platform will also be used to achieve Singapore’s National Determined Contributions (NDC) for carbon emissions.
Related Post: CDP Releases Position Paper on Carbon Credits
Introduction to Singapore Carbon Market Alliance
The Singapore Carbon Market Alliance is Singapore’s first carbon credit platform dedicated to providing compliance with Article 6 of the Paris Agreement. It is guided by the International Emissions Trading Association (IETA) and certified by the International Carbon Reduction and Offset Alliance (ICROA).
The mission of the Singapore Carbon Market Alliance is to cultivate a vibrant and highly integrated carbon market. Its mission is to provide a platform for carbon credit connection, sharing, and cooperation between buyers and sellers, and to regularly hold seminars to promote knowledge sharing. At present, the Singapore Carbon Market Alliance has 39 members, including carbon credit providers and large enterprises.
Reference:
