The Government of Singapore and the Integrity Council for the Voluntary Carbon Market deepen partnership to advance high-integrity carbon markets

The Government of Singapore, represented by the National Climate Change Secretariat (NCCS), and the Integrity Council for the Voluntary Carbon Market (ICVCM) signed a Cooperation Agreement today to strengthen collaboration on the development of credible, interoperable and high-integrity carbon markets that mobilise finance for climate action. 

Under this agreement, announced during London Climate Action week, NCCS and the ICVCM will work together to advance the work of the Coalition to Grow Carbon Markets¹ and promote the development of high-integrity carbon markets in Asia. The work will include joint initiatives to support capacity-building activities, knowledge-sharing, and collaboration on carbon market developments relevant to governments, businesses and market participants. 

The partnership between the Government of Singapore and the ICVCM reflects growing international efforts to build interconnected carbon markets and strengthen confidence in the role high-integrity carbon credits can play in supporting global climate goals.  

Ravi Menon, Singapore’s Ambassador for Climate Action and Senior Adviser to the National Climate Change Secretariat, said:  

“For carbon markets to drive meaningful global climate action, they must be built on trust and transparency. Singapore has been working with ecosystem partners to strengthen integrity and encourage the use of carbon credits that meet robust, internationally recognised standards. This partnership with ICVCM is a practical step towards supporting credible and effective carbon markets in the region.” 

Annette Nazareth, Chair of the Integrity Council for the Voluntary Carbon Market (ICVCM), said: 

“High-integrity carbon markets can play an important role in mobilising finance at the scale needed to address climate change. Singapore has been a global leader in developing trusted and effective carbon market frameworks, and we are delighted to deepen our partnership through this agreement. Together, we can help build greater confidence, consistency and interoperability across carbon markets, particularly in Asia, supporting the flow of finance to high-impact climate solutions.”

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About the National Climate Change Secretariat  

The National Climate Change Secretariat (NCCS) was established on 1 July 2010 under the Prime Minister’s Office (PMO) to develop and implement Singapore’s domestic and international policies and strategies to tackle climate change. NCCS plays a role in advancing Singapore’s efforts to develop robust carbon market frameworks and foster international cooperation under Article 6 of the Paris Agreement. It also works with other governments, businesses and other stakeholders to scale the supply of and demand for high-quality carbon credits, including as Co-Chair of the Coalition to Grow Carbon Markets. 

For more information, visit www.nccs.gov.sg  

About the Integrity Council for the Voluntary Carbon Market 

The Integrity Council for the Voluntary Carbon Market (ICVCM) is an independent global non-profit governance body for the voluntary carbon market. Its mission is to set and maintain a global threshold standard for high-integrity carbon credits through the Core Carbon Principles (CCPs) and Assessment Framework. The CCP label helps identify carbon credits that meet rigorous requirements for quality, transparency and sustainable development. 

For more information, visit www.icvcm.org