Singapore, January 2025 – Offset8 Capital has announced its membership joining the Singapore Carbon Market Alliance (SCMA). This strategic alliance, launched by the Singapore Economic Development Board (EDB) and the International Emissions Trading Association (IETA), aims to connect buyers and sellers of Article 6 credits and promote high-integrity carbon markets.
The SCMA, established to foster high-quality carbon credits aligned with Article 6 of the Paris Agreement, serves as a crucial platform for international suppliers and enablers of carbon markets. It facilitates connections with Singapore-based companies dedicated to sustainability, providing workshops and networking sessions to build knowledge and facilitate exchanges between industry and government on carbon credit requirements and initiatives.
Offset8 Capital's membership in SCMA underscores its commitment to innovative and reliable decarbonization strategies. The company aims to leverage high-quality carbon credits as key tools in bridging the financing gap and accelerating climate action. With a focus on developing high-integrity nature-based solutions across Africa and Southeast Asia, Offset8 Capital will continue to support Article 6-aligned, CORSIA, and CCP eligible credits.
About the Singapore Carbon Market Alliance (SCMA): The SCMA was launched to promote decarbonization in Asia while supporting economic growth and energy security. It involves cooperation among 11 nations, including Japan, Indonesia, and Australia, to achieve carbon neutrality through various pathways. The initiative is Singapore Economic Development Board (EDB), a government agency responsible for strategies that enhance Singapore’s position as a global center for business, innovation, and talent and International Emissions Trading Association (IETA), a non-profit business group championing the power of high-integrity markets to reach net-zero targets.
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Laos, December 2024 – A Groundbreaking Memorandum of Understanding (MoU) between Offset8 Capital, Faeger, and Sawa Eco Solutions was showcased at the Asia Zero Emission Community (AZEC) Leaders Conference. This MoU was among a select number of collaboration agreements between Japanese companies and partners in AZEC member countries, presented by the Prime Minister of Japan, His Excellency Shigeru Ishiba.
This landmark agreement marks a pioneering collaboration between companies from Japan, the UAE, and Indonesia. The primary objective is to introduce the Alternative Wetting and Drying (AWD) methodology in Indonesia, the world's fourth-largest rice-producing country. This initiative aims to significantly reduce methane emissions while benefiting thousands of rice farmers across Indonesia.
The AZEC initiative, launched in 2023, aims to promote decarbonization in Asia while supporting economic growth and energy security. It involves cooperation among 11 nations, including Japan, Indonesia, and Australia, to achieve carbon neutrality through various pathways.
The collaboration has received substantial support from the Ministry of Economy, Trade and Industry (METI), the Ministry of Foreign Affairs, and the Prime Minister's Office. Their endorsement underscores the importance of this tri-lateral effort to implement AWD in Indonesia, paving the way for a more sustainable and eco-friendly agricultural practice.
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The inaugural Carbon Forward Middle East 2025 event, held on January 16-17 in Abu Dhabi, marked a significant milestone for the region's carbon market discussions. Organized by Carbon Pulse and Redshaw Advisors Ltd, with support from Offset8 Capital, the event attracted nearly 200 delegates, underscoring its importance and relevance. Coinciding with Abu Dhabi Sustainability Week (ADSW), the event provided a robust platform for industry leaders, corporates, investors, and policymakers to engage in meaningful discussions on the latest developments in carbon markets.
The event highlighted several key areas of progress and opportunity. Discussions focused on the advancements in Middle East compliance carbon markets and the potential for trading voluntary carbon credits. Insights from global cap-and-trade models were shared, emphasizing their applicability to the Middle East context. The importance of investing in carbon markets to support project development was a recurring theme, alongside the challenges and strategies for airlines to comply with the Carbon Offsetting and Reduction Scheme for International Aviation (CORSIA). Additionally, discussions delved into the Article 6 Rulebook post COP29, climate finance, carbon removal innovations, and the role of voluntary carbon markets.
The economic and regulatory benefits of carbon pricing were emphasized as crucial for driving net-zero transitions. Additionally, the event examined how regional governments and companies are responding to net-zero targets and carbon border adjustment mechanisms (CBAM). The necessary infrastructure for emerging MENA carbon markets was also discussed, with comparisons drawn to more mature markets.
The success of the event was attributed to the invaluable insights and contributions of the speakers and delegates. The event wrapped up with a strong commitment to continue these important discussions and advance progress in the carbon markets, setting a promising precedent for future engagements in the region.
