The Asia Carbon Institute (ACI) has launched a new carbon offsets registry in Singapore, focusing on offsets generated from green technology, buildings, and other infrastructure with lower emissions. Unlike other registries that primarily target nature projects, ACI aims to tap into Asia’s vast market for projects that help companies and countries meet their net zero targets. ACI is currently in talks with developers for over 20 projects and plans to have 50 listed in the next six to 12 months. Each project could range from 1,000 tons to over one million tons of emissions avoided or removed per year. Asia is the largest carbon offsets producer globally, accounting for 44% of credits generated. According to Bain & Co., the value generated from Southeast Asia’s offsets market alone could reach US$10 billion per year by 2030. The new registry will compete with global players such as Verra, Winrock International, and the Climate Action Reserve, which set rules for issuing carbon credits to prevent multiple use. ACI aims to provide incentives for investments in emissions reduction from infrastructure and is seeking partnerships with companies in sectors such as electric vehicle charging and energy-efficient buildings. The institute is also developing methodologies for direct air capture and carbon capture, utilization, and storage. ACI plans to evaluate renewable energy projects on a case-by-case basis, despite criticisms from some investors and analysts regarding the failure of these offsets to meet “additionality” standards. Singapore is trying to establish itself as a hub for carbon markets and is home to two fledgling bourses, AirCarbon and Climate Impact X, with backing from Temasek Holdings and the Singapore Exchange. ACI, which has two employees, is funded by real estate developers keen to offset their carbon footprint and family offices. The founder of ACI, John Lo, clarified that the initiative is independent and not associated with or funded by Shell, where he currently works as a general manager.
ICE is preparing to introduce a futures market for carbon credits under CORSIA, which will focus on reducing airline emissions.
Intercontinental Exchange (ICE) announced plans to launch a physically delivered futures contract for carbon credits eligible for use by the...