Global body that probes quality of carbon credits sets up office in Singapore

FILE PHOTO: Women sit on a hill overlooking the Suralaya coal power plant in Cilegon, Indonesia, Jan. 8, 2023. The Integrity Council for the Voluntary Carbon Market will help raise the standards of a novel type of credits that can come from retiring young coal-fired power plants in South-East Asia, a key pathway to reducing the region’s emissions. - AP

SINGAPORE: A global body that sets standards to ensure carbon credits are of high quality is setting up its first physical office in Singapore, in a sign of the pull of the Republic’s emerging carbon services sector.

The Integrity Council for the Voluntary Carbon Market (ICVCM) will help raise the standards of a novel type of credits that can come from retiring young coal-fired power plants in South-East Asia, a key pathway to reducing the region’s emissions.