SINGAPORE — Singapore is launching a carbon trading marketplace focused on nature conservancy projects, a move that could protect at-risk tropical forests in the region while unlocking a ready source of carbon credits for businesses. The initiative, known as Climate Impact X (CIX), will have two main platforms: a marketplace of nature-based projects for firms to invest in, and an exchange where high-quality carbon credits are freely traded in larger quantities, catering mainly to multinationals and institutional investors. Backed by Singapore’s state investment firm, stock exchange, its largest bank, DBS, and U.K. bank Standard Chartered, the voluntary marketplace could be Southeast Asia’s “solution” to the problem of “fragmented carbon credit markets characterized by thin liquidity and credits of questionable quality,” Ravi Menon, managing director of Singapore’s central bank, said at the virtual launch last month. Through CIX, companies big and small can directly purchase high-quality, nature-based carbon credits from specific projects in Southeast Asia and elsewhere, Menon said, allowing for a broader range of businesses to participate in the voluntary carbon market and back solutions to conserve, restore and protect natural ecosystems while meeting their sustainability goals. “Singapore is located at the heart of Southeast Asia which is fertile ground to harness the potential of nature-based solutions,” Menon said, noting that the region holds more than one-third of the world’s mangroves and has about 120 million hectares (297 million acres) of land — an area four times the size of Malaysia — suitable for reforestation. “Proximity to Southeast Asia will…This article was originally published on Mongabay Läs mer

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