Carbon markets have evolved into a significant international market segment that has generated $104 billion in revenue in 2024 to fund climate and nature programs.

Indeed, it is a growing sector, especially when energy transition and the race to net zero is entering a new phase of maturity in which nations and corporations are being held to higher levels of integrity in both compliance and voluntary carbon offset claims, reporting and data.

Singapore’s Green Plan 2030 aims to make the country Asia’s carbon services and trading hub.

Yet, there appears to be a slowdown in the voluntary carbon market. According to industry experts, the voluntary carbon market has been in the doldrums for two years amid doubts among buyers over the integrity of the process.

Project Qatalyst, a due diligence platform and the brainchild of Standard Chartered Bank and French multinational power company Engie believes strongly that carbon credits are an invaluable tool in financing climate action and drive the transition to net zero. 

Poyan Rajamand, venture lead for Qatalyst at SC Ventures, tells us more.