Quantum Commodity Intelligence – One of China’s largest carbon project developers has announced backing for its Singapore joint venture from a government agency under the country’s Ministry of Trade and Industry (MTI).
Climate Bridge International, which launched operations in Singapore last month, has announced support from the Singapore Economic Development Board (EDB) through its Carbon Project Development Grant.
The grant is designed to support companies at the early stages of developing carbon credit projects that align with Article 6 of the Paris Agreement.
“We welcome Climate Bridge as they establish their first presence in Singapore, reflecting confidence in Singapore’s role as a carbon services and trading hub to enable regional climate action,” said Lim Wey-Len, executive vice president at the EDB.
The EDB’s funding will accelerate the company’s efforts to originate and structure high-integrity carbon projects in countries that have signed carbon cooperation agreements or MoUs with Singapore.
The EDB is the lead government agency under MTI and is responsible for strategies that help in sustainable economic growth.
“This grant will help to advance Climate Bridge International’s vision and execution model. Singapore has built a robust carbon market and established key international partnerships, making it the ideal launchpad for scaling global climate impact,” said Tan Chin Hwee, chairman of Climate Bridge International
The new venture, Climate Bridge International, is a partnership between Climate Bridge Group – one of China’s largest independent carbon project developers – and climate finance professionals Alvin Lim and Tan Chin Hwee.
Lim was the former head of Asia environmental products at investment bank Morgan Stanley while Tan was the former Asia-Pacific CEO at Trafigura
Shanghai-based Climate Bridge, founded in 2006, is a carbon project developer and trader of carbon credits and international renewable energy certificates (I-RECs).
Climate Bridge International will focus on nature and tech-based carbon projects, including afforestation, methane capture, and low carbon transportation.
The company aims to meet demand for high-integrity credits from governments, compliance markets, and international airlines under Corsia.
