Global testing and certification leader TÜV SÜD has inaugurated its Global Decarbonisation Centre of Excellence in Singapore, marking its 20th anniversary in the city-state. This initiative, supported by the Singapore Economic Development Board, represents a significant investment of more than $24m (S$30m) to advance digital carbon verification and enhance carbon market integrity across Southeast Asia.
The centre will provide end-to-end digital Monitoring, Reporting, and Verification (dMRV) capabilities, crucial for building a trusted infrastructure for high-integrity carbon markets. Ishan Palit, Chief Operating Officer of TÜV SÜD, highlighted Singapore’s strategic position as a trusted hub, stating, “Through this Centre, TÜV SÜD brings independent assurance and digital MRV capabilities together to help turn regional climate ambition into credible, measurable impact.”
The centre’s launch aligns with TÜV SÜD PSB’s two decades of supporting Singapore’s sustainability and industrial transformation goals. It aims to address challenges in carbon markets, such as fragmented regulation and inconsistent methodologies, which undermine investor confidence. By 2050, ASEAN’s carbon markets could generate up to $3t in opportunities.
The centre will focus on five strategic areas, including Article 6 implementation, energy transition, and supply chain integrity. It will also support the development of methodologies for nature-based solutions, addressing a $2.1t financing gap for the regional blue economy by 2030. Dr Céline Bilolo, Chief Sustainability Officer, emphasised the importance of creating systems that make climate progress measurable and credible. By 2030, the centre aims to foster a robust carbon market ecosystem across ASEAN.
