SINGAPORE, 8 June - The International Emissions Trading Association (IETA) announced the opening of its Asia hub in Singapore today at Singapore’s Ecosperity Week 2023. 

The Singapore office, officially named International Emissions Trading Association Singapore Limited, will serve as an Asia hub for IETA activities and provide a regional foundation to support its carbon market initiatives. This follows the launch of the Singapore-headquartered Climate Action Data Trust (CAD Trust) by IETA, the World Bank, and the Singapore Government at the end of last year.  

As a major hub for carbon services and trading in Asia-Pacific, Singapore is well-positioned to capture growth opportunities in this space and is already home to more than 70 organisations providing carbon services. Sitting at the heart of Southeast Asia, which holds the highest density of carbon prospecting for nature-based climate solutions, Singapore is focused on providing a range of carbon services that complements the region’s sustainability efforts. 

To date, IETA has nearly 100 members represented in Singapore, and the opening of IETA’s Asia office will allow IETA to engage with member companies based in Singapore and throughout the wider Asia-Pacific region.

The opening of IETA’s Asia office in Singapore comes around six months after IETA’s Asia Climate Summit last year, where the launch of CAD Trust as an independent entity domiciled in Singapore was announced. CAD Trust is a decentralised metadata platform that links, aggregates, and harmonises all major carbon credit registry data to enhance transparent accounting in line with Article 6 of the Paris Agreement. The CAD Trust uses blockchain technology to create a decentralised record of carbon market activity with the aim to avoid double counting, increase trust in carbon credit data and build confidence in carbon markets.

Dirk Forrister, President and CEO, IETA, said: “Addressing the climate challenge cannot be done alone, and it requires coordination and consolidation of all efforts. Across the Asia-Pacific region, we see a growing interest and adoption in market-based solutions, such as the implementation of emissions trading schemes and activity in voluntary carbon markets. If these instruments are effectively utilised, they will facilitate countries and companies meeting their net zero ambitions sooner and at lower cost. Singapore is leading the charge on decarbonisation and the establishment of regional carbon market initiatives, and the opening of our Asia office here represents a natural step for IETA as we look to work even closer with partners and key stakeholders in the region.” 

In the coming year, IETA is planning to arrange and participate in a large number of capacity building events, conferences, and policy dialogues in Singapore and in the region, including Australia, Indonesia, India, and Japan to strengthen the role of carbon markets in addressing the climate challenge. In October, IETA will be organising its annual Asia Climate Summit, which will take place in Tokyo, Japan.

ENDS

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downes@ieta.org

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BILBAO, 24 May - Carbon market participants are optimistic that ambitious reforms will continue to drive compliance market prices higher in the coming years, while voluntary carbon stakeholders are confident that the market will grow to meet increasing demand for carbon reductions, according to IETA and PwC’s 18th annual GHG Market Sentiment Survey.

Despite the political turmoil of the last year and the macroeconomic uncertainty, respondents in the annual survey remain optimistic that prices for carbon permits will continue to rise steadily in the long term, though the poll revealed a slight moderation in the pace of the increase compared to last year’s expectations.

Nearly three-quarters of those who expressed an opinion said the voluntary market is well-placed to meet rapidly rising demand from companies seeking to drive emissions down, as the market strives to enhance quality and oversight of projects.

The annual survey among IETA members has been undertaken by PwC and IETA every year since 2005. This year’s poll was carried out in April and received responses from 187 members.

Allowance prices

European respondents expect EU Allowance (EUA) prices to average €84.40 between 2023 and 2025, compared to a current price of €85.50. This represents a 1.2% decrease in the predicted price to 2025 from last year’s survey.

California carbon allowance (CCA) prices are predicted to average €39.23 between 2023 and 2025, a drop of 10.3% from last year’s result, while values for RGA permits in the northeastern RGGI market are forecast to average €32.20, a decline of 18% from the 2022 survey’s forecast.

Prices in the UK ETS are expected to average €79.22 over the next two years, compared to €85.65 in last year’s poll. New Zealand participants predicted NZU prices will average €45.00, down from €51.43 a year ago.

Despite drops in short-term price expectations, the survey reflected expectations that prices will be higher in the period from 2026 to 2030, with EUAs forecast to average €100, CCAs at €51.54 and RGAs at €45.83.

“The results of the survey underline the resilience of the carbon markets, in particular compliance markets, to the economic and geopolitical shocks that it has experienced over the last 20 years,” said Dirk Forrister, CEO and President of IETA.

“The findings demonstrate how market sentiment responds to political will, and that our members remain confident that carbon pricing mechanisms will grow in importance and spread to more parts of the world,” Forrister added.

“This year’s survey highlights the optimistic outlook for global carbon markets, with a consensus that prices will continue to rise across all emissions trading schemes surveyed,” said Ian Milborrow, sustainability partner at PwC UK.

“While there is some caution regarding the extent of expected price increases in the short to medium term, carbon pricing initiatives will play a critical role in mitigating climate change and keeping global warming below 1.5 degrees Celsius,” he added.

For the first time this year, IETA and PwC sought price forecasts for Australian Carbon Credit Units (ACCUs), and the survey predicted prices will average €43.08 in the next two years, and €55.83 between 2026 and 2030.

Respondents felt that regulators are likely to continue ramping up the ambition of their carbon pricing systems, with the EU expected to lead the way when co-legislators begin the task of setting the bloc’s 2040 emissions goals later this year. Nearly half of respondents anticipate that the EU will set a reduction target of 75% or more.

Similarly, more than two-thirds of respondents expected lawmakers in California to extend the state’s carbon market beyond 2030, while there remains some uncertainty over what target RGGI states will adopt for the market’s next phase.

New markets have emerged in the past year in Washington state, while New York’s governor recently announced the creation of a state-wide cap-and-invest system. Nearly half the survey respondents expect the New York market to begin by 2025.

Voluntary market

There has also been a decline in carbon offset price expectations compared to last year’s survey. Respondents this year said they expect prices for standardised N-GEO contracts to average €20.00 between 2023 and 2025, compared to a forecast of €33.36 in last year’s survey.

The survey found that 71% of respondents are confident that the market will be able to scale up supply sufficiently to meet growing demand, compared to 66% in last year’s poll.

Most of those questioned said they plan to use nature-based removal credits in their offsetting strategy, especially afforestation, soil carbon and sequestration and biochar.

Almost three-quarters (72%) of those polled said they expect the carbon offset credit to bifurcate into two classes for reduction/avoidance credits and carbon removal credits. The share of respondents predicting this shift has risen steadily in the last three years.

The work of the Integrity Council for the Voluntary Carbon Market (IC-VCM) was welcomed by many of those surveyed. A third said that the IC-VCM’s launch of the Core Carbon Principles (CCPs) will improve the integrity of voluntary carbon offsets.

“The voluntary carbon market has experienced a challenging period, but the work of organisations like the IC-VCM is only just beginning,” said Andrea Abrahams, managing director of voluntary markets at IETA.

“Stakeholders are fully committed to improving the integrity and reliability of carbon offsets so that the global community can confidently undertake decarbonisation plans knowing that they will be acquiring permanent, verified emission reductions,” Abrahams added.

"Ongoing reforms are likely to significantly alter the shape of the sector, this year’s survey has shown that the voluntary market is well-placed to adapt and continue playing a crucial role in channelling finance towards climate action,” said PwC’s Milborrow.

“As demand for carbon credits continues to grow, improving the integrity of the market will be critical to ensuring its long-term credibility and enable continued support from the private sector.”

The advent of the UNFCCC’s Article 6 markets remains a source of some uncertainty, the survey found, particularly when it comes to aligning the voluntary market with the new UN system. 21% of respondents said integrity and credibility issues around carbon offsets would present challenges, while 20% also highlighted the potential for political risk and a lack of government support.

The survey’s findings can be found on the IETA website.

WASHINGTON, D.C., 18 May - International cooperation under Article 6 of the Paris Agreement could more than double the volume of carbon reductions that nations can make towards their national targets, according to an updated report by the International Emissions Trading Association and the University of Maryland.

A capstone report produced with the help of new and updated research shows that countries that employ Article 6 mechanisms to cooperatively meet their targets could always benefit, regardless of how many countries participate in cooperative mitigation. The degree of benefit and the role of each country (buyer or seller) will depend on what cooperative mitigation “club” the country is part of.

Emissions trading works by setting a market-based price on emissions reductions. Those countries that cannot economically make reductions at home may buy reductions from other countries that have already reached their targets.

By first exploiting reductions that can be made at a lower cost, the whole world benefits from the start. And as the cost of making reductions increases, international cooperation helps direct investment to the right place to make the next least-expensive reductions.

“Our research confirms a classic economic principle: that whenever the marginal cost of producing an outcome differs across countries, opportunities exist for cooperation to achieve the same outcome with net gains for all parties,” said Jae Edmonds, Professor of Public Policy at the University of Maryland and Chief Scientist at Pacific Northwest National Laboratory.

Research concluded that international transactions could surpass $100 billion a year by 2030 if countries choose to cooperate in trading under Article 6 of the Paris Agreement.

“This report provides solid evidence on the economic potential of Article 6. It is now time for countries to implement these mechanisms and harness its benefits” said Dirk Forrister, President and CEO of the International Emissions Trading Association. 

Article 6 creates a mechanism for countries to generate emission reductions that can either be counted towards their own domestic targets, known as Nationally Determined Contributions (NDCs), or can be sold to other countries to put towards their own NDCs.

More than 190 countries have signed up to the Paris Agreement, and the vast majority of them have also submitted NDCs to the UN Framework Convention on Climate Change. These NDCs will be studied at this year’s Conference of Parties in December, where delegates will carry out a thorough review of progress to date under what is called a Global Stocktake.

The report is available to read at the IETA website.

BRUSSELS, April 25 – EU Ministers today approved a wide-ranging set of reforms to the EU Emissions Trading System, paving the way for the bloc to achieve a 55% cut in emissions from 1990 levels by 2030. This is the last step in a series of votes, following the preliminary agreement reached in December 2022. 

IETA warmly welcomes the reforms, which highlight the EU’s leading role in the use of carbon markets to achieve the global goal set out in the Paris Agreement, of reaching a net zero climate target by the middle of this century.

“The completion of the EU ETS reforms reinforces the benchmark role that Europe’s cap-and-trade system plays for the world, by setting ambitious targets that will require a robust, transparent and fair price on carbon,” said Julia Michalak, EU policy advisor at IETA.

The European Union has also formally approved the creation of a second, parallel emissions trading system that will cover the emissions from fuels used in the domestic and transport sectors. 

Research by leading analysis firm ICIS estimates that with this expansion of mandatory carbon pricing, as much as 76% of the EU’s total emissions will now be covered by a pricing mechanism.

The Council also approved the creation of a Carbon Border Adjustment Mechanism, which will impose a carbon levy on imported materials from jurisdictions that do not put a price on carbon. 

“Europe is demonstrating that the impacts of a global pandemic, as well as an energy crisis and conflict on its doorstep should not detract from the climate imperative,” Michalak said. “With these reforms, the European institutions have shown that the political will to achieve the Paris goals remains strong in the face of economic and geopolitical turmoil.”

EUROPEAN CLIMATE SUMMIT, LISBON, 29 March - The International Emissions Trading Association (IETA) has published a new paper, The Evolving Voluntary Carbon Market, shedding light on key trends in the market and on how the Voluntary Carbon Market (VCM) is evolving.

The paper, authored by a group of IETA members, identifies key market trends including the uncertainties that market players are experiencing due to current debate around the VCM and the ambitious role it can play. The paper discusses a range of topics significantly impacting the market by dividing them into the following four sections:

    •    Corporate net-zero guidance and inclusion of offsetting
    •    The relationship between the VCM and country actions under the Paris Agreement
    •    Consolidation or proliferation of crediting approaches
    •    Governance and increasing regulation

The VCM, which grew at its fastest-ever pace in 2022, must play a central role in the progression towards net zero. To do so, it must adapt to changing circumstances and evolving science:  according to the paper, “the market finds itself at a crossroads. The VCM must evolve at a quicker pace than ever before to maintain public confidence in its ability to meaningfully contribute to the global goal of net zero by 2050.”

There are several reasons why the VCM must adapt. First, to provide a robust mechanism for corporates to reduce or remove emissions beyond their value chains. Secondly, to channel finance to where it is most needed, including low and lower-middle income countries. Thirdly, to pave the way to compliance markets in jurisdictions where they remain nascent.

Carbon credit markets are challenged by the lack of a single overarching governance system and a common set of standards and definitions but stakeholders such as the Integrity Council for the Voluntary Carbon Market (ICVCM), the Voluntary Carbon Market Integrity initiative (VCMI) and the International Carbon Reduction and Offset Accreditation (ICROA) are taking action to create commonly-accepted benchmarks that should boost confidence.

The VCM is rapidly evolving to incorporate the latest guidance on how corporates can use carbon offsets in their journey to net zero. The new IETA paper reiterates the importance of the so-called mitigation hierarchy: “Companies should avoid new sources of emissions, reduce internal emissions as much as possible, and only then compensate/offset residual emissions with the use of carbon credits.”

The paper also notes the growing role of removal credits, which represent net reductions in the atmospheric concentration of carbon dioxide but cautions against the assumption that, because such net reductions are not yet being generated at scale, companies should wait until the removals market has matured before taking action: “We strongly feel that carbon credits could be a central mechanism to enable stronger interim claims, or address gaps should corporates miss their interim targets. Missing an interim target is not acceptable when we have a relatively elastic and affordable mechanism at our disposal globally.”

The paper further underlines the positive role that carbon reductions and avoided emissions play in the transition towards net zero.

You can find The Evolving Voluntary Carbon Market paper on IETA’s website: https://www.ieta.org/Reports.

GENEVA (February 7) – IETA today announced the publication of a comprehensive set of standardised Emission Reduction Purchase Agreements (ERPAs) relating to the sale and purchase of carbon credits from reduction and removal projects.

The trade documentation includes a primary ERPA and a contingent secondary ERPA, and is intended to provide a minimum benchmark for transacting emissions reduction and removal credits by including basic provisions relating to the transaction of such credits. Options for addressing the risks entailed are outlined in an accompanying guidance document.

The documents and guidance can be found on the IETA website:

Primary ERPA v1.0

Contingent Secondary ERPA v1.0

“The new documentation represents a step forward in standardisation for voluntary and compliance carbon markets,” said Dirk Forrister, CEO of IETA.

“While initiatives like the Integrity Council for the Voluntary Carbon market are working to establish a new threshold standard for carbon credits, these new trading documents will help develop transparent and reliable legal structures for the trade in carbon credits.”

The new documents represent part of a wider IETA effort to update trade documentation including for secondary market transactions in collaboration with other trade organisations.

Since its foundation in 1999, IETA has promoted carbon trading across the world by informing, advising and helping create the concepts and tools to make efficient and effective market mechanisms a reality. IETA has spearheaded the development of trade documentation since it launched the first Emissions Trading Master Agreement for the EU ETS in 2005.

The Guardian article published on Jan. 18th (Revealed: more than 90% of rainforest carbon offsets by biggest provider are worthless, analysis shows) raises concerns with the methodologies used to calculate carbon dioxide reductions from a number of projects set up to cut emissions by avoiding deforestation and forest degradation (projects typically referred to as REDD+).

REDD+ is one of the largest, and therefore most prominent, types of carbon reduction project, among thousands that are being implemented round the world as part of a global effort to rein in the growth in greenhouse gases.

The Guardian’s investigation and article take issue with elements of the methodology and the calculations used to determine emissions reductions.

IETA has transmitted a letter to the editor of the Guardian responding to the article, while a number of stakeholders including Verra, the offset standard that oversees the methodology, have also published detailed responses to the article and the research on which it relies:

Everland

Sylvera

Respira International

Space Intelligence

Sandeep Roy Choudhury

Verra

South Pole

The article cites academics that take issue with highly technical elements of the methodologies used to determine the amount of emissions reductions by projects to generate carbon credits. But many other experts support the current technical elements. The article did not fairly represent the views of both sides.

Science plays a key role

Debates among scientists risk being misunderstood and taken out of context by the wider community, with unintended consequences. This is of particular concern when the science is not yet peer reviewed, as is the case of the research that the article heavily relies upon.

The criticisms of REDD+ methodology also fail to highlight that calculating emissions savings depends on a counterfactual: on estimating what emissions would have been without the project taking place. Analysis has found that a far smaller proportion of projects incorrectly estimates this baseline, than the share claimed by the Guardian.

The article also fails to acknowledge that the majority of carbon offsetting is carried out in the global South, and that most reductions are enabled through carbon markets.

One stakeholder writes that “there are countries in the global south who desperately need this last mile finance, a finance that is not a debt, grant or equity, a form of capital which derives itself from a business taking responsibility for their emissions voluntarily as opposed to doing nothing.”

The net zero goal

The IPCC’s sixth report highlights the important role that nature-based solutions can play in keeping us on track to meet the net zero goal of the Paris Agreement.

Achieving the Paris Agreement’s net-zero goal requires the rapid expansion of carbon markets. Carbon credit standards organisations, like Verra, provide the science-based methodologies that drive quality, action and supply within voluntary carbon markets. All new methodologies are open to public consultation, where scientific input is considered – and where critics should present their views.

The scientific community is working hard to support these standards’ ongoing task of improving the calculation of carbon reductions, raising the integrity and reliability of carbon credits and so enhancing public understanding and trust.

IETA and ICROA, the Accreditation Programme that also endorses carbon offsetting standards, stand ready to assist in the communication of the benefits of carbon reduction projects and the net-zero transition.

Methodologies are dynamic

The methodologies that govern carbon reduction calculations are constantly being reviewed. Verra’s own standard for REDD+ projects has been updated multiple times to reflect changes and improvements in climate science and forest measurement.

International bodies like the Integrity Council for the Voluntary Carbon Market and the Voluntary Carbon Markets Integrity initiative are tasked with further improving the quality and integrity not just of carbon credits, but in the way they are marketed and used.

It’s generally accepted that in order to avoid the worst impacts of climate change we must reduce emissions as much as we can, remove as much CO2 from the atmosphere as we can, and offset any remaining unavoidable emissions.

The reduction imperative

But we don’t have the time to wait for all the different new and emerging technologies to be economically scalable – we have to do as much as we can, as soon as we can.

Reductions are already taking place all over the world. Europe’s emissions trading system has cut CO2 discharges from industry by nearly one-third since 2008. California’s cap-and-trade program is targeting a 40% cut by 2030 compared to 1990 levels, and there are similar systems in place from New Zealand to Canada.

The voluntary carbon market and the standards that support it have helped to mobilise private action and investment – and can help us all reach the Paris climate goal.

Download the PDF here.

The Guardian article published on 18th January (Revealed: more than 90% of rainforest carbon offsets by biggest provider are worthless, analysis shows) raises concerns with methodologies used to calculate carbon dioxide reductions from a number of projects set up to cut emissions by avoiding deforestation and forest degradation.

The article cites academics that take issue with highly technical elements of the methodologies used to determine the amount of emissions reductions by projects to generate carbon credits. But many other experts support the current technical elements. The article did not fairly represent the views of both sides.

Debates among scientists risk being misunderstood and taken out of context by the wider community, with unintended consequences. This is of particular concern when the science is not yet peer reviewed, as is the case of the research that the article heavily relies upon.

Achieving the Paris Climate Agreement’s net-zero goal requires the rapid expansion of carbon markets. Carbon credit standards organisations, like Verra, provide the science-based methodologies that drive quality, action and supply within voluntary carbon markets. All new methodologies are open to public consultation, where scientific input is considered – and where critics should present their views.

The voluntary carbon market and the standards that support it have helped to mobilize private action and investment – and can help us all reach the Paris climate goal.

Dirk Forrister

President & CEO
International Emissions Trading Association (IETA)

Download the PDF here.

GENEVA, 22 December – IETA’s 2022 GHG Market Report tracks the evolution of carbon markets through a series of issue-based articles tackling MRV, policy certainty, decarbonisation in emerging economies, scaling carbon markets, and technological innovations. Carbon Markets 3.0 is structured around the first iteration of carbon markets, emerging ones, and the future of the carbon market. Articles include a reflection on the market’s transformation and lessons learned by carbon market pioneer Ken Newcombe, a look at how the EU ETS is reforming for future challenges, how South Korea is using emissions trading to balance a growing population and economy with environmental goals, the carbon pricing landscape in Colombia, and the technology that’s shaping the markets of tomorrow. The report also includes The Business of Net Zero, a piece produced with Forbes on how businesses are transforming, and a profile of the Climate Action Data Trust, a blockchain-based data initiative from IETA, the World Bank and the Government of Singapore. “This year has seen a wave of innovations to enhance the carbon market’s functioning as the world continues to transition to a net-zero trajectory, while existing markets also work out how they can rise to the challenges ahead,” says IETA President and CEO Dirk Forrister. “All of this is captured in this year’s IETA GHG Market Report.”  “The Paris Agreement includes a place for market mechanisms as they are a critical tool to reach our long-term environmental objectives in a cost-effective and efficient way,” he continues. “As technology and science evolves, so too will carbon markets, to ensure they deliver net-zero ambitions and drive the change society needs.” Other highlights include the latest on Article 6, Japan’s unique approach to emissions trading, how the voluntary carbon market can be scaled up with integrity, and how China is approaching its data challenges.

• Global open-source metadata system launches to unify carbon credit registry data
• Founding Partners: IETA, World Bank and Singapore Government announce the CAD Trust Council to provide strategic guidance
• Major registries will plan to connect during Q1 2023, when the public data layer will go live

SINGAPORE (7 December 2022) – Today the International Emissions Trading Association (IETA), the World Bank and the Government of Singapore announced the launch of the Climate Action Data Trust (CAD Trust), and that initial integration and connection with several major registries is underway.

The CAD Trust Founding Partners also announced the governance structure and the composition of the CAD Trust Council that will advise and guide the initiative by setting its strategic direction.

CAD Trust was formed by three Founding Partners, IETA, the World Bank and the Singapore Government. It will engage with a variety of governments and public and private organisations to set the specifications for an open-source metadata system to share information about carbon credits and projects across digital platforms, easing future integration of multiple registry systems.

Major registries, along with other national registries and the wider ecosystem of registries will plan to connect to CAD Trust in early 2023, with the first layer of data to be made publicly available at that point. Many of these registries are already represented via the CAD Trust Council, with integration into the data layer already underway for several of them.

Dirk Forrister, President and CEO, IETA, said: “Today’s launch of the CAD Trust marks a significant step in the evolution of carbon markets. It will lead to the creation of a centralised, accessible and secure digital infrastructure that national governments and private businesses can rely upon as they expand carbon markets to meet their net-zero goals. This system will provide the integrity and public trust necessary for scaling up investment in climate action.”

The Founding Partners also announced the CAD Trust Council that will work closely with the initiative.  CAD Trust is an independent entity headquartered in Singapore. To give it strategic direction and ensure it remains successful in its goals, the Council will give advice and recommendations to the Board of Directors that is responsible for the operations of CAD Trust.

The Council consists of national representatives from Bhutan, Chile, Japan, Senegal, Singapore and the United Kingdom, and registry representatives from Verra, Gold Standard, American Carbon Registry and Global Carbon Council. Full biographies of the individuals can be found here: https://climateactiondata.org/about/. 

Chandra Shekhar Sinha, Adviser, Climate Change Group at the World Bank added: “There was a clear message coming out of COP27 last month that countries need functioning market infrastructure for carbon markets to achieve their climate goals. We hope that CAD Trust becomes a critically important source of data by connecting registry systems of the voluntary and compliance carbon markets to bolster transparency and accountability in these markets to meet corporate needs and to further the implementation of the nationally determined contributions that sit at the heart of the Paris Agreement.”

“High-integrity carbon markets are needed to support collective efforts to advance global climate action. CAD Trust will enable greater interoperability amongst registries within carbon markets to ensure transparency, accuracy, and consistency in the tracking and reporting of carbon credit use. CAD Trust is one of the initiatives that Singapore is supporting to facilitate international climate change cooperation amongst countries and stakeholders under Article 6, to mobilise efforts toward achieving the Paris Agreement goals,” said Benedict Chia, Director-General (Climate Change), National Climate Change Secretariat of Singapore. 
 
CAD Trust uses distributed ledger technology to bring together decentralised carbon crediting records to guard against double counting, increase trust in carbon data and enhance climate ambition. CAD Trust is the culmination of three years’ work, prototyping a series of simulations of carbon data aggregation and access with partners including governments, registries and other organisations. It evolved out of the Climate Warehouse, an initiative launched and managed by the World Bank.
 
ENDS
 
ABOUT CAD TRUST
Climate Action Data Trust (CAD Trust) is a joint initiative of the International Emissions Trading Association, the World Bank and the Singapore Government, along with a variety of governments and public and private organisations. It will provide an open-source metadata system to share information about carbon credits and projects across digital platforms, easing future integration of multiple registry systems. CAD Trust uses distributed ledger technology to create a decentralised record with the aim to avoid double counting, increase trust in carbon data and enhance climate ambition.

The CAD Trust is an independent entity domiciled in Singapore.
Visit https://climateactiondata.org/ for more information.
 
MEDIA CONTACTS:
 
Lukasz Biernacki
Director of Communications, VCM Initiatives, IETA
biernacki@ieta.org
 
Elizabeth Yeong and Joyce Chin
Cognito
IETA@cognitomedia.com