National carbon market alliance launched to help companies access quality carbon credits

Low Yen Ling, senior minister of Singapore’s State Ministry of Trade and Industry, speaks during the Bloomberg Sustainable Business Summit.

One carbon credit represents one tonne of carbon dioxide that is either prevented from being released into or removed from the atmosphere. These credits are created through renewable energy projects and other projects such as forest conservation initiatives, mangrove restoration, and replacing wood-burning stoves.

A project must not result in carbon leakage elsewhere, and the emissions removed and reduced should not be reversible. EDB managing director Jacqueline Poh said: “We signed these agreements, as yet there are no credits. So we need to work together on this.” SCMA will also help its members learn how to enable and access Article 6 carbon credits, as well as provide updates on the government’s requirements and initiatives in carbon credits.

These credits could come from carbon projects that the company has invested in, in countries such as Kenya and Rwanda, both of which Singapore is pursuing carbon trading partnerships with.

España Últimas Noticias, España Titulares

Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.

Singapore Theatre Company returns to Singapore Repertory Theatre name after contentious rebrandTheatremakers who objected to the name change in February welcome SRT's latest announcement.
Fuente: The Straits Times - 🏆 8. / 63 Leer más »

Why Singapore firms are entering the German market, and how Enterprise Singapore is helping themEnterprise Singapore, which champions internationalisation, said it has seen a spike in companies exploring opportunities in Europe post-pandemic.
Fuente: ChannelNewsAsia - 🏆 6. / 66 Leer más »