VCMI and GenZero Strengthen Collaboration to Advance High-Integrity Market Mechanisms
Singapore, 18 April 2024 – The Voluntary Carbon Markets Integrity Initiative (VCMI) and GenZero strengthen collaboration aimed at building a high-integrity and effective carbon ecosystem. This collaboration underscores both organizations’ shared commitment towards accelerating global net zero.
Following a successful close to Temasek’s Ecosperity Week 2024 and GenZero Climate Summit 2024, where VCMI and GenZero shared insights on the importance of comprehensive climate finance strategies, we are pleased to come together to advance the credible use of high-quality carbon credits and other market-based instruments. This collaboration will focus on deepening the evidence base for technical innovations and products, such as Sustainable Aviation Fuel (SAF) certificates, and their potential role within high-integrity market infrastructure.
By leveraging our combined expertise, we aim to address emerging challenges and unlock new pathways to get climate finance where it is needed the most.
Mark Kenber, Executive Director of VCMI, commented, “Our collaboration with GenZero represents a significant step forward in our mission to promote integrity and transparency in carbon finance. By working together, we can harness the power of other market-based instruments to drive meaningful impact and accelerate global net zero.”
Frederick Teo, CEO of GenZero, said, “Our collaboration with VCMI aims to deepen the knowledge base on market mechanisms like carbon credits so they can be used by corporates in a trusted and credible way on their decarbonization journey. This will create demand and drive more financing towards accelerating the underlying innovation solutions that these credits support like Sustainable Aviation Fuel.”
As we reflect on the discussions and insights gained during Ecosperity Week, VCMI and GenZero look forward to continued collaboration and progress towards our shared goals.
For media inquiries, please contact:
- Cognito Media: VCMI@cognitomedia.com
- Wachsman: genzero@wachsman.com
About VCMI:
The Voluntary Carbon Markets Integrity Initiative (VCMI) is an international non-profit empowering companies, governments and non-state actors to realize the full potential of high-integrity voluntary carbon markets (VCMs). VCMI provides guidance on how different actors can make voluntary use of carbon credits to make a meaningful impact on climate action. The Claims Code of Practice enables companies to make ‘Carbon Integrity’ claims, recognizing their achievements in going above and beyond science-aligned emissions cuts to accelerate global net zero. The Access Strategies Program supports host-country governments to establish policies and processes necessary to build and strengthen a cohesive governance of VCMs that underpin their country’s participation in high-integrity voluntary carbon markets.
For more information on VCMI, visit vcmintegrity.org
About GenZero:
GenZero is an investment platform company focused on accelerating decarbonisation globally. Founded by Temasek, we seek to deliver positive climate impact alongside long-term sustainable financial returns by investing in opportunities with the potential to be nurtured into impactful and scalable solutions.
Driven by a common purpose to decarbonise for future generations, we recognise the need for a holistic and integrated approach to achieve a net zero world. At GenZero, we adopt a flexible investment approach across three focus areas to drive climate impact: (i) nature-based solutions that help protect and restore our natural ecosystems while benefiting local communities and biodiversity; (ii) technology-based solutions that deliver deep decarbonisation impact; and (iii) carbon ecosystem enablers which refer to companies and solutions that support the development of an effective, efficient, and credible carbon ecosystem.
For more information on GenZero, visit www.genzero.co.