The National Environment Agency (NEA) of Singapore has appointed BeZero Carbon, Calyx Global and Sylvera as independent carbon-rating service providers to enhance the credibility and transparency of carbon credit assessments under Singapore’s International Carbon Credits (ICC) framework.
Announced on 7 November, the appointments aim to bolster the rigour of environmental integrity assessments for carbon credit methodologies and projects that support Singapore’s 2030 Nationally Determined Contribution (NDC) and 2050 net-zero goal.
The three firms will form a panel to provide expert evaluations of carbon credit projects and methodologies, ensuring that credits used or purchased by Singapore meet high environmental standards.
“The appointment of carbon-rating service providers will support Singapore’s assessment of these methodologies and projects in a nascent carbon credits market,” NEA said in a statement.
Introduced in November 2022, the Singapore ICC framework outlines eligibility criteria and integrity principles for carbon credits. Since 2024, companies liable under Singapore’s carbon tax have been allowed to offset up to 5 per cent of their taxable emissions through ICCs.
As of 31 October 2025, Singapore has signed implementation agreements with 10 countries — including Thailand, Vietnam, Bhutan, Mongolia, Papua New Guinea, Rwanda, Ghana, Peru, Paraguay and Chile — for the generation and trade of carbon credits under Article 6 of the Paris Agreement. Calls for project applications have already been issued for Ghana and Peru.
The NEA noted that Singapore regularly reviews its list of eligible carbon crediting methodologies to ensure alignment with the latest science and maintain environmental integrity. The inclusion of the three independent assessors will also help expand and diversify the ICC supply, strengthening the broader carbon market ecosystem.
The agency added that the three firms were selected following a competitive tender process launched in May, with assessments based on their technical capabilities, market expertise, team qualifications, track record, and cost competitiveness.
