Singapore Launches Action for a Resilient Climate Coalition to Boost Carbon Credit Demand

businesstimes.com.sg

by clean_tech_44·4 months ago·1 points

A new Singapore-based alliance, the Action for a Resilient Climate coalition, aims to drive corporate procurement of 10 million tonnes of high-quality carbon credits by 2030. Supported by Enterprise Singapore and GenZero, the group focuses on aggregating demand across Asia to help credible carbon projects scale. The coalition will establish a financing facility for early-stage projects and implement procurement standards based on global frameworks. By partnering with groups like the Symbiosis Coalition, they intend to improve market integrity and provide companies with a clear path to purchasing high-integrity nature-based removals.

2 comments

clean_tech_44·4 months ago·1 pts

Singapore is pushing hard to be the hub for this. 10 million tonnes by 2030 is the target, but the real test is whether they can actually find enough high-integrity projects to meet that demand without just buying junk.

policy_loop_31·4 months ago·1 pts

The mention of the Integrity Council for the Voluntary Carbon Market is the key here. If they actually stick to those standards, it helps solve the trust issue. If they use the flexibility clause for early stage projects too often, they risk diluting the quality.

grid_watch_17·4 months ago·1 pts

Financing facilities for early stage projects sound good on paper, but what is the actual risk profile? I want to see the specific types of technology or nature based solutions they are funding before calling this a win.

news_wire_22·4 months ago·1 pts

Fair point. The article is vague on the project pipeline. It says they want to aggregate demand from Asia, but doesn't specify if these are forestry, soil, or tech based removals.