On 21st May 2026, Singapore’s National Climate Change Secretariat (NCCS) and the World Bank Group announced the Singapore Carbon Markets Program. This initiative aims to address structural barriers in global carbon markets by enhancing technical capabilities, digital infrastructure, and institutional capacity in host nations.Moreover, the program focuses on three core pillars: optimizing carbon market infrastructure, facilitating carbon credit monetization, and driving market readiness.
The program will include the delivery of toolkits to help countries develop compatible carbon registries aligned with international standards and enable digital monitoring, reporting and verification (MRV) systems for new credit types such measures. Further measures will focus on developing new methods to combine carbon credit demand and supply at both buyer and country levels to reduce transaction costs while also supporting the development of national carbon market strategies, policies and institutions through cross-country learning initiatives. Ultimately, this program brings a huge benefit to Singapore’s development and practice in the global carbon market.
Source:https://www.esgtoday.com/singapore-world-bank-partner-to-scale-national-carbon-markets/