Singapore Green Finance Centre

Opinion: How Will Carbon Markets Affect Singapore’s Sustainability Efforts?

Opinion: How Will Carbon Markets Affect Singapore’s Sustainability Efforts?

April 2024

Authors: Adele Lim and Maria Teresa Punzi

Key takeaway 1:
Singapore has the potential to establish itself as a carbon services hub with the Eligibility List in place for the VCM, further driving demand for carbon credits if prices continue to be set competitively with global market players. The success of VCM in Singapore also ties in closely with the progressive carbon tax approach.

Key takeaway 2:
Carbon markets are an essential mechanism for accelerating global decarbonisation, but stakeholders should collaborate to make them robust, transparent, and trustworthy.