GenZero

What do swamps, whales and underground rocks have to do with the #heatwaves that are plaguing the world today?   European Union’s Copernicus Climate Change Service noted that “June 2024 was warmer globally than any previous June in the data record” in their recent #Climate Bulletin. As global warming continues to break records, there is a pressing need to remove or avoid the release of carbon dioxide into the atmosphere.   This is where swamps, whales and underground rocks have a crucial role to play as seemingly unlikely #carbon sinks.   🌾 #Swamps, including bogs, marshes and wetlands, are considered to be highly effective carbon sinks due to their immense root systems that store #carbondioxide and the slow rate of decomposition of roots and organic matter in such ecosystems due to the water-logged soil.   🐳 Apart from being one of the most loveable mammals roaming our oceans, #whales are great carbon sinks! Whales are capable of storing carbon in their bodies over a long lifespan, which can stretch up to 200 years. This translates to a potential for a single whale to sequester around 33 tonnes of carbon dioxide a year, which is equivalent to the sequestration potential of approximately >1,000 trees over the same period.   ⛰ Underground #rocks, through new climate technologies, have the potential to store large amounts of carbon dioxide. #Geological #sequestration injects carbon from the atmosphere into rock formations deep underground where it is intended to remain indefinitely. However, more remains to be done to scale these technologies and bring down the cost curve to encourage adoption.    More critically, the key takeaway is that we need to continue to explore all avenues to reduce and mitigate the devasting effects of #climatechange. There is tremendous opportunity for climate action in every nook and cranny of Earth - be it through an unlikely area of wetlands, flora and fauna in our neighbourhoods, or through the unassuming rock formations that reside deep beneath our feet.   What are some other unlikely #carbonsinks that we might have missed out on? Let us know if our comments section below! 💚💡

"Temasek is its people, people who share a mindset: the courage to innovate, resilience in the face of setbacks, and the tenacity to bounce back." GenZero is proud to celebrate #Temasek’s #50th anniversary by being a part of its 50 by Fifty series which outlines the birth of GenZero and our onward efforts to accelerate #decarbonisation globally. Told from the perspective of our CEO Frederick Teo, he shares about his journey with #Temasek, to taking the helm at #GenZero. He shared that future success hinges on a willingness to be #bold, #innovate, and forge #newpaths. “It's like placing stones across a riverbed, paving the way for a crossing. Laying the stones isn't enough. You need the courage to step onto them and complete the journey,” he says. The 50 by Fifty series presents 50 stories from Temasek’s staff, alumni, and beneficiaries who have been a part of Temasek's journey through the years. Together, they capture pivotal milestones of Temasek, and tell the story of an institution built By Generations, For Generations. Read more at: https://lnkd.in/g3fJ4HyP

“It has been an incredibly humbling learning journey. Tackling the challenges and issues involved in #nature and #biodiversity financing is complex and multi-faceted. Carbon financing for restoring and conserving natural ecosystems is also an enabler for driving positive biodiversity outcomes.” Speaking on a panel discussing ‘Biodiversity Finance and Nature-Related Risks’ at the Impact and Sustainable Finance Faculty Consortium Convening 2024, our Investment Director, Ling Min Hoon, shared her views on leading nature-based solutions investments at GenZero and the key tools the future generation needs to be equipped with to thrive in this space. “It requires a multi-disciplinary approach and the ability to think holistically and critically, taking into account the multiple stakeholders involved and impacted through the process,” she said. Key takeaways 👇 🌐 #Carbon, nature, and biodiversity are interlinked. It is imperative that we adopt a systems-level approach to solve issues holistically rather than in insolation. 🌳 Carbon projects are a way to deploy much-needed resources and financing towards positive biodiversity outcomes. #Naturebasedsolutions that aim to restore and conserve natural ecosystems often have co-benefits on biodiversity and local communities as well. 🎥 Carbon financing enables robust measurement, reporting and verification (#MRV) technologies to be deployed not just towards carbon stock monitoring through remote sensing, but also tracking biodiversity outcomes through the use of bioacoustic sensors and camera traps.   ⏳ Positive biodiversity outcomes can have a long gestation period, especially when it comes to the restoration of natural ecosystems on degraded land. We are racing against time, and it is key that we take action today. Thank you to the #Impact & #Sustainable #Finance Faculty Consortium for organising and inviting GenZero to be part of this exchange, and Professor Carlos Vargas, Ph.D., Joanna Tan from New Forests, and Guillermo T. from Citi for the engaging panel discussion! We look forward to more efforts to convene thought leaders and leading university faculty members who teach impact and sustainable finance courses to exchange experiences from across the globe to develop the expertise needed to propel the field forward.

Did you know that #rainforests are the oldest living ecosystems on Earth with some surviving in their present form for at least 70 million years? (credit to National Geographic) Let’s take a pause this #WorldRainforestDay to celebrate the diversity of life that owes its existence to this incredible ecosystem. A living museum of around 40,000 plant species and 2.5 million different insects, rainforests are believed to be home to half of the world’s plant and animal species. Aside from being home to the other living things we share this Earth with, rainforests also play an important role in: 🍃 Being a #carbon sink, taking millions of metric tonnes of carbon dioxide out of the atmosphere every year ☁ Regulating weather systems through their absorption and creation of rainfall 🌱 Preventing soil erosion and flooding by anchoring the soil with their deep roots However, despite all the great contributions that rainforests have done for us, around half of the world’s rainforests have been destroyed in the last century. This translates to a massive loss of ecological wealth, with significant consequences for the planet's health. The #AmazonRainforest is particularly vulnerable, facing threats from illegal logging, cattle ranching, and agriculture. (#Photo below shows an aerial view of illegal Amazon #deforestation) If we continue with current rates of deforestation, the remaining rainforests could vanish within the next century. Here are some actions we can take to reduce deforestation and protect our rainforests: 1️⃣ Support rainforest #restoration and protection 2️⃣ Use less paper 3️⃣ Recycle paper and cardboard 4️⃣ Support sustainable wood products / by-products 5️⃣ Reduce meat consumption 6️⃣ Use less firewood 7️⃣ Share awareness on the severity of the issue and steps we can collectively make to drive change Let’s help keep our rainforests around for as long as we can. #WorldRainforestDay #Reforestation #Afforestation #Biodiversity #SayNoToDeforestation #Conservation

“Take action. There is no #netzero without carbon markets. We need to direct the financing required toward climate solutions. Everyone has a role to play in the value chain, and it is imperative that we continue to have conversations and think about how we can collectively improve and raise the bar for quality and integrity in the carbon markets,” shared Ashley Chan, Director of Investments, #GenZero at Singapore Sustainable Finance Association (SSFA)’s first capacity building workshop on #carbonmarkets.   Speaking at their workshop on ‘Unpacking the Carbon Value Chain’, Ashley gave the attendees insights into the perspective of an investor as she shared GenZero’s global mandate of accelerating #decarbonisation by investing through patient capital and strategic #partnerships.   Key takeaways 👇 💰 Carbon credits, as an additional source of revenue, can be a key lever to enhance the financial viability of #climate solutions ✔ Investors need to have rigorous project selection and robust due diligence when it comes to assessing projects ✳ However, there could still be risks and uncertainties that are beyond investors’ control. While these risks cannot be eliminated, they can be mitigated at the project and portfolio level 💡 #Innovative solutions such as long-term offtake partnerships, concessionary capital and carbon insurance could be a way to balance risks alongside portfolio level diversification   GenZero is proud to be a member of #SSFA and collaborate with industry leaders across the #financial and #realeconomy sector to support the growth of #Singapore as a trusted #sustainable #finance centre.   Thank you SSFA for organising this capacity building workshop to deepen knowledge and build greater readiness and awareness on carbon markets as we journey towards a net-zero Singapore!

🎁 In the words of Marvel’s #DrStrange, “The greatest gift we can receive is to have the chance to make a difference.” 🤔 If you had a chance to make a difference and shape the future of #carbon markets, what would your next steps forward be? This was a question #TeamGenZero pondered on as we challenged one another and stretched our thinking through the development of the #GenZeroCarbonScenarios report. Together with The Weird and Wild, we distilled salient points to note for an overview of the report launched last month. Our GenZero Carbon Scenarios report explored the complexities of the #carbonmarket landscape and possible future scenarios for carbon markets: 💚 #GreenNewWorld – As humanity collectively rallies for greater #climate action, could we see a stronger push for high-integrity carbon projects and trading between standardised carbon markets? 🤝 #SustainablyDivided – In a future marred by geopolitical uncertainties, could carbon markets be an important tool in bridging international partnerships? 💥 #ResilientIslands – With extreme weather disasters exacerbating tensions, could we see greater fragmentation for the carbon markets as international cooperation for climate action wavers? These scenarios are not predictions or forecasts, but instead narratives about the possible futures to help us better understand how driving forces can impact outcomes and thereby craft strategies that move the needle for climate action irrespective of how the different futures may play out. 💡 #FoodForThought: In a world with many possible futures, how do we ensure that we have no regrets and what would your no-regret move for carbon markets be? Swipe below to discover the different trends that could shape the current landscape as we know it, and the possible futures abound for carbon markets. Tag or share this with anyone who would like to learn more! ➡ Explore the three distinct scenarios, detailed with narratives here: https://lnkd.in/ggeZ4yze

In a highly anticipated update, The Integrity Council for the Voluntary Carbon Market (ICVCM) today announced the approval of the first set of methodologies that meet the high-integrity Core Carbon Principles (#CCPs). Seven #carbon crediting methodologies were approved, and the CCP label can now be applied to an estimated 27 million voluntary carbon credits. Here are some key takeaways from the announcement 👇 ✔ The first batch of CCPs were largely for projects that destroy stockpiles of #ozone depleting substances for landfill gas projects ✔ Approved methodologies span across Verra, Gold Standard, ACR at Winrock International, and Climate Action Reserve (CAR) ✔ There are conditions on some approvals particularly around landfill gas methodologies, limiting them to projects generating a maximum 10 MW-equivalent of electricity ✔ Another 27 categories of #carboncredits, representing over 50% of the market, remain under active assessment by #ICVCM ✔ We expect to see updates on methodologies regarding improved forest management, #sustainable #agriculture, #renewable #energy and other project-types in the coming months The CCP labels put into motion a drive for greater integrity in the supply side of the carbon markets, by setting a global benchmark for quality of carbon credits. The additional layer of rigour through this label should build trust and confidence in the carbon markets. GenZero is heartened by this progressive move forward for the carbon markets, and we look forward to working closely together with like-minded industry partners to scale the carbon markets and accelerate #decarbonisation globally. 💡 #FoodforThought: Will #2024 be a year of redemption for carbon markets? Let us know your thoughts.

Today marks #WorldEnvironmentDay. Let's take a moment to reflect on the critical state of the various key environments around the world - from lush rainforests to vibrant coral reefs. In the tropics where #Singapore resides, #forests are the dominant ecosystems. Examples of the different forest types we have on our sunny island include (credit to National Parks Board): 🌳 Lowland dipterocarp forests: Tropical rainforests found in Southeast Asia, typically at elevations below 300 metres. Forest canopy tends to be dominated by tall dipterocarp trees which can reach heights over 80 metres. (e.g. Bukit Timah Nature Reserve and the Singapore Botanic Gardens Rainforest) 🌳 Coastal hill forests: Woodlands that grow on hills and slopes near coastal regions (e.g. Hills at Labrador Nature Reserve) 🌳Freshwater swamp forests: Forests growing in wet, fresh water, lowlands that are flooded permanently or seasonally (e.g. Central Catchment Nature Reserve and the centre of Pulau Tekong) 🌳Secondary forests: Forests that have regrown following complete removal of earlier forests (e.g. old plantations/orchards that have been abandoned that have been overtaken by a diversity of native species over the years) All of these comprise some of the many essential habitats needed for biodiversity to thrive. But yet many are facing unprecedented levels of degradation. If we continue unchanged, a fifth of the Earth's natural habitats could be gone by 2100. It's time to come #together and #takeaction to #restore and #protect our environments for future generations. Whether it's conserving forests, promoting sustainable agriculture, or reducing pollution in our seas and oceans, there are countless ways we can make a difference. Let's not wait until it's too late. Let's work together to ensure a sustainable future for all living beings on this planet. #WorldEnvironmentDay #RestoreOurHabitats #ProtectBiodiversity (Photos below: The Central Catchment Nature Reserve is Singapore’s largest nature reserve with >2,000 hectares of forest and a diversity of wildlife, including the Lesser Mousedeer, the Olive-winged Bulbul and the Raffles Banded Langur.)

“As lawyers, harnessing creativity and having the ability to draw on best practices from different types of businesses would be instrumental in supporting corporates to achieve climate impact,” shared Kimberly Tan, Head of Investments at #GenZero, when asked about a call-to-action that she hopes to see from #legal practitioners, from a #corporate's standpoint. At the GenZero Climate Summit 2024: Senior Legal Roundtable's Closing Panel ‘Leveraging Legal Practice to Drive Decarbonisation and Climate Impact Outcomes', experts across the legal and investment space, including Peter Grant of Lightrock, Susan Mac Cormac of Morrison Foerster LLP, Jeroen Ouwehand from Clifford Chance and GenZero’s Kimberly Tan, shed light on the legal levers needed to accelerate #decarbonisation, and the need for clear and thoughtful legal mechanisms to pave the next steps forward to scale #climateimpact. Moderated by Louisa Quek from GenZero's legal team, the panellists concurred that lawyers play a crucial role in the drive for greater decarbonisation by balancing between risk exposures of climate investments and achieving positive #climateimpact. Key #takeaways that came through, include: 💡 #Innovation is key — There is a need to innovate present-day legal practices to integrate sustainability into the financial and operative frameworks of climate-focused investments to scale impact. 🔍Clarity of #regulation and greater oversight is needed to enhance accountability of claims — Lawyers play a pivotal role in translating regulation into actionable guidance to ensure greater accountability of claims made by corporates to strengthen investor confidence and attract greater capital flows towards climate projects. This includes putting in place mechanisms to ensure corporates/projects achieve climate impact targets, and developing robust legal frameworks with clarity to drive climate impact outcomes. Catch the replay of the panel here: https://lnkd.in/gB_YRpez #GenZeroClimateSummit2024 #GenZero #TheNextSteps #Ecosperity

📢 The #US government recently announced a major push to bolster the voluntary carbon markets (#VCMs) as a tool for tackling #climatechange. Here's a breakdown of the key points:   ⭐ The Goal ⭐ Enhance VCMs to accelerate emissions reductions and lower the cost of #decarbonisation   💥 The Challenges 💥 • Credit Quality: Concerns about credits not reflecting real emissions reductions • Credible Use: Concerns about #integrity of claims and reputational risk • Barriers to participation: Regulatory uncertainty, high costs, and lack of #transparency 📃 Principles for #Responsible Participation in VCMs 📃 • High integrity credits: Credits must represent verifiable emissions reductions • Environmental & social responsibility: Projects should avoid environmental and social harm and promote positive social impacts • Prioritise internal reductions: Buyers should prioritise emissions reductions within their value chains • Transparent carbon credit use: Disclosure of credit use should allow observers to assess quality • Accurate climate claims: Claims should be made in line with high integrity standards and corporate • Support integrity initiatives: Stakeholders should collaborate to improve market functionality • Efficient market participation: Barriers (e.g., transaction costs, market uncertainty) should be addressed to incentivise investment and supply 💡 The US Government's Actions 💡 • USDA RFI: Seeking public input on protocols for high-integrity carbon credits from agriculture and forestry • DOE Pilot Programs: Directly purchasing carbon removal credits through the Carbon Dioxide Removal Purchase Pilot Prize and Carbon Negative Shot, and creating a leaderboard for voluntary purchases • Innovation Investments: Supporting research and deployment of carbon removal technologies • International Leadership: Participating in international standard-setting efforts (e.g. CORSIA, Article 6.4) and promoting high-integrity VCMs globally 🌱 The Bottom Line 🌱 Carbon markets are needed to #accelerate decarbonisation efforts and scale climate action – but #quality and #transparency are important. While carbon markets have the potential to unlock significant #privatecapital for innovative #climatesolutions, ensuring their long-term effectiveness will require robust standards and clear guidelines to encourage broad buy-in from participants. This is also where efforts by the US government form one of many important steps towards realising high-quality, transparent carbon markets. We look forward to further #collective efforts on this front.   https://lnkd.in/e2w2U4-y 🤔 What are your #thoughts on the role of VCMs in climate action? Share your views with us below. #ClimateChange #VoluntaryCarbonMarkets #Sustainability