Ieta launches Asia hub in Singapore to support carbon market initiatives

08 Jun 2023 2 min read

The Asia hub will be used to support the International Emissions Trading Association's carbon market initiatives.

The International Emissions Trading Association (Ieta) has launched its Asia hub in Singapore on Thursday (Jun 8).

The hub will be used for Ieta’s activities and provide a regional foundation to support its carbon market initiatives, the association said.

It noted that Singapore – a major hub for carbon services and trading in the Asia Pacific region – is “well-positioned” to capture growth opportunities, stating that the Republic is already home to more than 70 organisations providing carbon services.

Discover how companies are tapping Singapore's green economy to develop sustainable solutions

The opening of the hub follows the launch of the Climate Action Data Trust in December 2022. The platform – backed by Ieta, the World Bank and Singapore – links, aggregates and harmonises all major carbon market registry data, creating a decentralised record that can address the issue of double counting.

Dirk Forrister, President and Chief Executive of Ieta, said that there is a growing interest and adoption in market-based solutions across the Asia-Pacific region.

Such solutions include implementing emissions trading schemes and activity in voluntary carbon markets.

“If these instruments are effectively utilised, they will facilitate countries and companies meeting their net zero ambitions sooner and at lower cost,” he said.

Topics

Sustainability

Developments in Singapore

Ieta launches Asia hub in Singapore to support carbon market initiatives

Ieta launches Asia hub in Singapore to support carbon market initiatives

Discover how companies are tapping Singapore's green economy to develop sustainable solutions

Topics

Related Content

Sustainability updates from Singapore for businesses – a round-up from January to March 2025

Singapore to launch request for proposal to buy carbon offsets

Singapore releases new emissions targets for 2035, on track to reaching net zero by 2050

Singapore sets out plan to meet 2030 climate targets; energy imports, carbon capture among key efforts