Singapore Launches First Academy for Carbon Market Growth

Singapore launches its first academy to help companies build capabilities and capture carbon market opportunities

New set-up aims to develop talent pipeline for carbon markets and facilitate industry knowledge-sharing to support Singapore’s growth as Asia’s carbon services and trading hub

07 Nov 2024 3 min read

This press release was jointly issued by Enterprise Singapore (EnterpriseSG), Singapore Economic Development Board (EDB) and Nanyang Technological University, Singapore (NTU Singapore).

Enterprise Singapore (EnterpriseSG), Singapore Economic Development Board (EDB) and Nanyang Technological University, Singapore (NTU Singapore) launched the Carbon Markets Academy of Singapore (CMAS) today. The CMAS will train and upskill 300 professionals by 2027 to support the growth of Singapore’s carbon services and trading sector. This was announced by Deputy Prime Minister Gan Kim Yong at the Financial Times Commodities Asia Summit 2024.

The CMAS will partner EnterpriseSG, EDB, various research centres and institutes within NTU and industry partners to develop Continuing Education and Training (CET) and postgraduate programmes to equip professionals with capabilities to take on new and emerging roles in carbon markets. These include roles in carbon trading and related services such as carbon project development, monitoring reporting and verification (MRV), and environmental, social and governance (ESG) assurance and certification.

EnterpriseSG and EDB will continue to work closely with NTU to ensure that programmes offered by the CMAS can bridge demand gaps in the carbon services and trading sector. The agencies will also provide industry expertise and business networks to support the CMAS’ research and outreach activities.

The CMAS’ first programme, the Executive Certificate in Carbon Markets, will be jointly delivered by NTU’s Nanyang Business School (NBS) and Asian School of Environment (ASE). The programme is open for enrolment and its first intake will commence in January 2025. More information on the programmes offered by the CMAS is included in the Annex and at https://www.ntu.edu.sg/business/CMAS. It will also progressively roll out more advanced training courses and curriculum for professionals to develop deeper specialisation in areas such as carbon credit project development and carbon financing.

Beyond developing a strong talent pipeline, the CMAS will also serve as a thought leadership platform to promote the exchange of insights among academics, industry practitioners and policymakers in the region. For instance, it will work with industry partners to develop Asia-focused research and real-world case studies. In addition to its incorporation into CMAS’ curriculum, the insights and learnings from these case studies can be used to shape the carbon management strategies of governments and businesses in the region.

“As a global trading hub with the highest concentration of companies trading and originating carbon credits in Southeast Asia, Singapore is well-placed to support the development of global carbon markets and transition into the green economy. The Carbon Markets Academy of Singapore will enhance our carbon ecosystem, and support companies with the necessary talent to diversify their business activities and develop new capabilities in carbon trading and other low-carbon solutions.”

Lee Pak Sing

Assistant Managing Director for Trade and Connectivity

Enterprise Singapore

“As corporates in Asia embark on their sustainability journey, they will generate new job opportunities for Singaporeans, and many will need to build new internal capabilities or seek external expertise to manage their carbon footprint. The Carbon Markets Academy of Singapore is a key initiative to prepare aspiring local professionals with relevant skills for this growing sector and complements Singapore’s efforts to develop into an attractive carbon services and trading centre in the heart of Asia.”

Lim Wey-Len

Executive Vice President

EDB

“NTU’s collaboration with Enterprise Singapore and Economic Development Board to launch the Carbon Markets Academy of Singapore leverages the University’s strengths in sustainability and finance. It also aligns with NTU’s commitment to lifelong learning and our Sustainability Manifesto where the University aims to achieve carbon neutrality by 2035. By working closely with industry, we aim to equip professionals with the skills needed to navigate carbon markets and promote sustainable practices. The collaboration is also an affirmation of NTU’s support of Singapore’s transition to a low-carbon economy and its efforts in global climate action.”

Professor Boh Wai Fong

Vice President of Lifelong Learning & Alumni Engagement

Nanyang Technological University