Singapore and the World Bank Group have jointly launched a new carbon markets programme aimed at strengthening high-integrity climate finance and expanding transparent global carbon trading systems. The initiative was announced during the Innovate4Climate conference in Singapore and is expected to support developing nations in accessing climate funding through credible carbon credit mechanisms.

The Singapore Carbon Markets Programme seeks to improve trust, accountability and governance in carbon trading systems as global demand for carbon credits continues to grow. Officials said the programme will assist countries in building stronger institutional frameworks and help create reliable, transparent carbon markets that attract long-term climate investments.

The launch comes amid increasing global focus on carbon pricing and climate-related financial reforms. According to the World Bank’s latest carbon pricing report, nearly 30 per cent of global greenhouse gas emissions are now covered under carbon pricing systems worldwide. Revenues generated from carbon pricing crossed $107 billion in 2025, highlighting the expanding role of climate-linked financial mechanisms in global sustainability efforts.

Singapore has been positioning itself as a leading international carbon trading hub and views the initiative as part of its broader strategy to support sustainable finance and green economic growth. The programme is also expected to encourage higher-quality carbon credits that contribute meaningfully to emissions reduction goals and climate transition efforts.