S1E74: Climate dictionary: What is the voluntary carbon market? - Green Pulse

Apr 3, 2022

19:01

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Synopsis: Every first and third Monday of the month, The Straits Times analyses the beat of the changing environment, from biodiversity conservation to climate change.

In March, a digital platform that allows businesses to buy and sell carbon credits was launched by Singapore-based carbon exchange and marketplace Climate Impact X (CIX). This development comes amid growing interest in carbon credits from companies looking to reduce their carbon footprint.

By buying one carbon credit from elsewhere, emitters can offset one tonne of greenhouse gas emissions from their total emissions. But will this promote greenwashing among corporations? And how effective are carbon projects at removing carbon from the atmosphere?

In this episode, The Straits Times environment correspondent Audrey Tan and climate change editor David Fogarty discuss the voluntary carbon market with Mr Mikkel Larsen, the chief executive of Climate Impact X (CIX) - a Singapore-based carbon exchange and marketplace.

Highlights (click/tap above):

01:37 Who is buying carbon credits?

02:49 How carbon credits from nature-based projects benefit the global environment?

7:38 Can the supply of carbon credits catch up with demand?

10:40 Are emissions reductions from carbon credits reliable?

14:00 How can platforms like CIX’s help to prevent corporate greenwashing?

Produced by: Audrey Tan (audreyt@sph.com.sg), David Fogarty (dfogarty@sph.com.sg), Ernest Luis, Hadyu Rahim and Eden Soh

Edited by: Hadyu Rahim

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