EDB, IETA launch platform giving access to quality carbon credits

This is a by-invitation alliance linking companies to carbon credits suppliers.

The Economic Development Board (EDB) and IETA have launched the Singapore Carbon Market Alliance, the first platform in the city-state that aims to help companies meet their goals and contribute to global sustainability ambitions.

IETA said SCMA is a by-invitation-only alliance that will connect international developers and suppliers of carbon credits with Singapore-based corporations that are interested in purchasing Article 6 carbon credits.

“Through workshops and networking sessions, the SCMA will build members’ knowledge on enabling and accessing high-quality credits. It will also facilitate exchanges between industry and the Government on Singapore’s requirements and initiatives in carbon credits,” it added.

IETA will also provide best practice guidance to sellers and project developers through its ICROA Accreditation Program to support the SCMA's scheme implementation.

According to IETA, there is currently strong interest from companies in Singapore to purchase carbon credits.

“Access to high-quality carbon credits will be especially important for companies in hard- to-abate sectors, where low-carbon technologies will require more time to become commercially available,” the group said.

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