Source: Government of Singapore
Singapore, 7 November 2025 – The National Environment Agency (NEA) has appointed three carbon rating service providers – BeZero Carbon Ltd (BeZero Carbon), Calyx Global, Inc (Calyx Global), and Sylvera Ltd (Sylvera) on 7 November 2025. They will provide independent assessments of carbon credit methodologies and projects, and support Singapore’s environmental integrity assessment of carbon credits.
Singapore’s International Carbon Credit (ICC) Framework
2 International Carbon Credits (ICCs) are one of the pathways to achieve Singapore’s 2030 Nationally Determined Contribution (NDC) and 2050 net zero ambition. Introduced in November 2022, the Singapore ICC Framework sets out the Eligibility Criteria [1] and environmental integrity principles for carbon credits. Carbon tax-liable companies can use ICCs to offset up to 5 per cent of their taxable emissions in year 2024 onwards.
3 As of end October 2025, Singapore has signed Implementation Agreements with 10 countries for the generation and trade of carbon credits as provided under the Paris Agreement Article 6. Of these Agreements, application calls for carbon credit projects for Ghana and Peru have been issued.
Independent Carbon Rating Service Providers Support Singapore’s Carbon Credit Assessment
4 The Singapore Government regularly reviews the list of eligible carbon crediting methodologies to maintain relevance and uphold the required environmental integrity standards, based on the latest science and evidence. The appointment of carbon rating service providers will support Singapore’s assessment of these methodologies and projects in a nascent carbon credits market, while building capacity within the broader ICC ecosystem through the expansion and diversification of ICC supply.
5 A carbon ratings panel comprising BeZero Carbon, Calyx Global and Sylvera has been appointed to support the Singapore Government’s assessments of the methodologies and projects proposed for the generation of carbon credits. The panel will provide expert views to improve the rigour of environmental integrity assessments of carbon credits that Singapore purchases.
6 The appointment of the carbon ratings panel follows a competitive tender process launched in May 2025. The tenderers were assessed based on their capabilities, market expertise, team qualifications, track record and cost competitiveness.