TUV SUD launches S$30 million Singapore decarbonisation centre to boost carbon market trust 

[SINGAPORE] German testing and certification group TUV SUD launched on Wednesday (Sep 9) a new S$30 million decarbonisation centre in Singapore, which will help companies measure and verify emissions and other carbon data.

Supported by the Singapore Economic Development Board (EDB), the Global Decarbonisation Centre of Excellence will serve companies in Singapore and across South-east Asia.

The centre comes as carbon markets expand across the region, with estimates cited by TUV SUD putting the cumulative opportunity in Asean at up to US$3 trillion by 2050.

Speaking in a pre-recorded video at the launch, Minister for Sustainability and the Environment Grace Fu said carbon markets could channel financing towards emissions reductions and removals, but could only scale if they were credible and trusted.

“This requires rigorous standards, reliable data, and robust measurement, reporting, and verification,” added Fu, who is also minister-in-charge of trade relations.

But differing regulations and methodologies, as well as difficulties in measuring and verifying carbon data, remain hurdles to greater participation in these markets, said TUV SUD.

“At a time of growing complexity in climate action, progress depends on trust that can be verified,” said its chief operating officer Ishan Palit.

“Singapore’s position as a trusted, impartial and internationally connected hub makes it uniquely placed to raise standards for carbon integrity and the clean energy transition across the region.”

TUV SUD said the centre will support five areas, including carbon markets and climate assurance, energy transition, industrial decarbonisation and capability building.

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It will also support the implementation of Article 6 of the Paris Agreement, a global framework that allows countries to cooperate and trade carbon credits to meet their climate goals.

Fu also highlighted the centre’s focus on nature-based solutions and emerging blue carbon projects, where she said credible verification would be important in unlocking the region’s potential.

She added that the centre supports Singapore’s ambitions as a carbon services and trading hub, and its broader strategy to strengthen its role as a connected global hub.

The centre will have more than 20 multidisciplinary experts, who will support clients from project design and implementation through to compliance, verification and certification.

Around 160 carbon services and trading companies are currently based in Singapore and will be able to tap the centre’s expertise and services.

By 2030, TUV SUD aims to bring project developers, digital monitoring providers, independent verification bodies and carbon registries from across South-east Asia together on a single digital platform.

The launch also marks TUV SUD PSB’s 20th anniversary in Singapore. The German group acquired PSB Corporation and PSB Certification in 2006, establishing Singapore as an anchor for its growth in Asia.

In 2021, TUV SUD opened a S$100 million regional hub here, which houses more than 60 laboratories.

EDB chairman Png Cheong Boon said the new centre will add to Singapore’s carbon services and trading ecosystem, while creating opportunities for the local workforce.