Singapore-backed climate action data trust boosts transparency in carbon credit trade

In just over a year since its launch, the Climate Action Data Trust (CAD Trust), supported by Singapore, has significantly enhanced the credibility of the carbon credit trade, covering 85% of all credits issued to date and aiming for further expansion in 2024.

The CAD Trust, launched in late 2022 by the Singaporean Government, World Bank, and the International Emissions Trading Association, has emerged as a pivotal platform to enhance transparency in the global carbon market. Benedict Chia, director-general of climate change at the National Climate Change Secretariat, emphasized Singapore’s commitment to becoming a global carbon trading hub, with tools like CAD Trust playing a crucial role in achieving this vision.