Singapore launches coalition to boost demand for high-integrity carbon credits

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🗞️ Driving the news: Singapore has launched the Action for a Resilient Climate (ARC) Coalition to aggregate demand for high-integrity carbon credits and unlock financing for early-stage climate projects across Asia
• Members include Tencent, Mitsubishi Corporation, CATL, Osaka Gas, Vale, Rubicon Carbon, WWF Singapore, and Enterprise Singapore

🔭 The context: Voluntary carbon markets have struggled with inconsistent standards, falling buyer confidence, and greenwashing concerns, particularly for nature-based projects
• The ARC Coalition aims to rebuild trust, create coordinated demand signals, and support projects that might otherwise struggle to secure financing

🌍 Why it matters for the planet: By pooling demand for at least 10 million tonnes of carbon credits by 2030 and establishing blended finance facilities, the initiative could accelerate climate mitigation, emissions reductions, removals, and nature restoration projects across Asia
• Transparent procurement and due diligence standards are intended to ensure long-term environmental integrity.

⏭️ What’s next: The coalition will develop procurement standards aligned with ICVCM and international frameworks, support promising projects not yet fully benchmarked, and exchange best practices through partnerships with initiatives like the Symbiosis Coalition
• Asia is expected to become a major hub for voluntary carbon credit demand as decarbonisation targets tighten

💬 One quote: “A lack of demand commitment for carbon credits generated from high-quality decarbonisation projects is holding back investments into these carbon projects.” – Frederick Teo, CEO, GenZero

📈 One stat: ARC Coalition members aim to procure at least 10 million tonnes of high-integrity carbon credits by 2030

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