Singapore Carbon Market Alliance

A robust carbon market, with appropriate guardrails and incentives, coupled with high-quality carbon credits will be key levers in bridging the financing gap and accelerating climate action. The SCMA is a display of commitment towards building an ecosystem of players with the shared goal of responsibly developing and actively participating in the carbon markets. As an investor in the carbon markets, we support and encourage the cross-sharing of insights to deepen knowledge within the industry in order to drive greater financing towards climate solutions.

Google is pleased to be a launch member of the SCMA. We commend the EDB for convening such a forum in Singapore that helps build and exchange industry knowledge on how high-quality credits can channel financing and support climate action. This complements Google's efforts to accelerate the transition to a net-zero future.

The Singapore Government has been proactive and ambitious when it comes to leading on sustainability and further strengthening a transparent, high integrity carbon market represents a significant opportunity for Singapore in its decarbonisation journey. Pollination is delighted to bring its global carbon markets experience to help unlock that opportunity through the new SCMA.

Vitol is pleased to participate in the SCMA as a platform for high quality carbon credits. Singapore is a leader in developing carbon markets in Asia and initiatives such as SCMA will help to consolidate this position. Vitol has been trading energy in Singapore for 40+ years and we welcome developments that accelerate the growth of new markets, especially those needed to enable a timely and effective energy transition.

Veolia proudly supports the SCMA in fostering high-quality carbon credits which are crucial for financing climate action towards a net-zero future. We believe SCMA will help us connect with partners, stay updated on Singapore's carbon market policies, and enhance our industry knowledge. Singapore's emerging role as a hub for carbon services presents a unique opportunity for growth and collaboration in the global effort to combat climate change. As a pioneering leader in ecological transformation, Veolia has set ambitious goals to reduce our carbon footprint and help clients accelerate their decarbonization roadmap for climate change mitigation and sustainable development.

Changi Airport Group (CAG) is committed to high-quality carbon offsets, as part of its wider sustainability ambition. The SCMA will be a valuable platform to build our networks and knowledge for trusted carbon markets. By joining the SCMA, we hope to drive the integrity and traceability of carbon offsets with other members. CAG launched Changi Carbon Offsets in November 2023. Passengers can now offset their carbon footprint when they fly, even if their airline does not have its own offset programme. CAG has taken the lead to offset the carbon footprint for all its business travel.