A new Singapore-based coalition, Action for a Resilient Climate, aims to drive corporate demand for high-quality carbon credits with a target of 10 million tonnes by 2030. Supported by Enterprise Singapore and GenZero, the group focuses on aggregating demand across Asia to help scalable climate projects find funding.
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New group in Singapore trying to push corporate buyers toward 10 million tonnes of credits by 2030. They are also setting up a fund for early stage projects. Worth watching to see if these buyers actually sign contracts or if this is just a statement of intent.
The mention of the Integrity Council for the Voluntary Market is the key part here. If they actually stick to those standards, it might fix some of the trust issues in the VCM. But aggregating demand is a different beast than actually enforcing quality.
The 10 million tonne target is a round number. I want to know what the actual pipeline looks like. Are these nature based removals or tech based? The risk profile for early stage projects is huge, so that financing facility will need a lot of skin in the game.
Bain, Tencent, and Mitsubishi are involved. This looks like a play to make Singapore the central hub for carbon credit trading in Asia. The partnership with the Symbiosis Coalition suggests a specific lean toward removal credits.
