Latest news with #CSSGD
Business Times
2 days ago
- Business
- Business Times
DBS China signs MOU with two other parties to advance carbon credit trading
[SINGAPORE] DBS China on Tuesday (Aug 12) signed a memorandum of understanding with a subsidiary of China-Singapore Suzhou Industrial Park Development Group (CSSD) and Climate Impact X (CIX), in a bid to advance carbon credit trading in China, and on international frontiers. This venture establishes a framework to explore and assess the demand for carbon credit or renewable energy certificate (REC) trading, as well as related services, in the Suzhou Industrial Park (SIP). CSSD's subsidiary China-Singapore Suzhou Industrial Park Green Development Company (CSSGD) will lead local engagement and market research among enterprises, while CIX will contribute technical insights. CIX is a global environmental markets exchange co-founded by DBS Group, the Singapore Exchange, Temasek and other Singapore institutions. DBS said that it will act as a green finance adviser to both parties, providing strategic guidance and sustainable financial solutions. This assessment of demand will allow the involved parties to co-develop a pilot programme tailored to the needs of SIP companies seeking access to global carbon credit markets. The programme is said to have the potential to be scaled more broadly across China and on other international fronts. Han Kwee Juan, group head of DBS' institutional banking group, said: 'The partnership combines DBS' Asian network and institutional banking expertise with CIX's technical leadership in carbon markets and SIP's sustainable ecosystem, for us to develop scalable carbon solutions that connect domestic sustainability goals with global carbon standards.' Xiao Jianzhong, vice-president of CSSD and chairman of CSSGD, also said: 'SIP has a highly developed outward-oriented economy, offering broad market demand for international carbon asset trading, carbon credit development, RECs and related services. Through this collaboration, we aim to further enhance CSSGD's green service system and capabilities, adding new value to China-Singapore cooperation in green development.' The SIP was launched in 1994, and houses a wide range of companies from around the world, including Chinese enterprises on top of those from Singapore, the US and Europe. It is the first government-to-government project between Singapore and China.
Business Times
3 days ago
- Business
- Business Times
DBS, China-Singapore Suzhou Industrial Park Development sign MOU to advance carbon credit trading
[SINGAPORE] DBS China on Tuesday (Aug 12) has signed a memorandum of understanding with a subsidiary of China-Singapore Suzhou Industrial Park Development Group (CSSD) – China-Singapore Suzhou Industrial Park Green Development Company (CSSGD) – and Climate Impact X (CIX), in a bid to advance carbon credit trading in China, and on international frontiers. This venture establishes a framework to explore and assess the demand for carbon credit or renewable energy certificate (REC) trading, as well as related services, in the Suzhou Industrial Park (SIP). CSSGD will lead local engagement and market research among enterprises, while CIX will contribute technical insights. CIX is a global environmental markets exchange co-founded by DBS Group, the Singapore Exchange, Temasek and other Singapore institutions. DBS said that it will act as a green finance advisor to both parties, providing strategic guidance and sustainable financial solutions. This assessment of demand will allow the involved parties to co-develop a pilot programme tailored to the needs of SIP companies seeking access to global carbon credit markets. The programme is said to have the potential to be scaled more broadly across China and on other international fronts. Han Kwee Juan, group head of DBS' institutional banking group, said: 'The partnership combines DBS' Asian network and institutional banking expertise with CIX's technical leadership in carbon markets and SIP's sustainable ecosystem, for us to develop scalable carbon solutions that connect domestic sustainability goals with global carbon standards.' Xiao Jianzhong, vice-president of CSSD and chairman of CSSGD, also said: 'SIP has a highly developed outward-oriented economy, offering broad market demand for international carbon asset trading, carbon credit development, RECs and related services. Through this collaboration, we aim to further enhance CSSGD's green service system and capabilities, adding new value to China-Singapore cooperation in green development.' The SIP was launched in 1994, and houses a wide range of companies from around the world, including Chinese enterprises on top of those from Singapore, the US and Europe. It is the first government-to-government project between Singapore and China.
