Singapore Government and the ICVCM deepen partnership to advance high integrity carbon markets

London, 24 June 2026 — 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.

2            Under this agreement, announced during London Climate Action week, NCCS and ICVCM will work together to advance the work of the Coalition to Grow Carbon Markets^[1] 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.

3            The partnership between the Government of Singapore and 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.

4            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.”

5            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."

^[1]The Coalition to Grow Carbon Markets is a government coalition that seeks to scale voluntary demand for high-integrity carbon credits. It is co-chaired by Kenya, Singapore, and the United Kingdom, and comprises a total of 11 member governments to date. It is supported by several partners, including ICVCM.