Big Tech drawn to new Singapore carbon offset trading market

Tech giants are looking to Singapore's carbon offset trading platform to achieve their ambitions of being carbon neutral. — Bloomberg

Some of the world’s largest tech corporations – from Google to Microsoft Corp and Amazon – are in talks with a new carbon offset trading platform in Singapore that would be among the first to be backed by a public stock exchange.

The technology giants may use Climate Impact X as they strive to meet “ambitious” targets to become net-zero emitters, Herry Cho, Singapore Exchange Ltd’s head of sustainability and sustainable finance said in an interview. Ride-hailing firm Grab Holdings Inc has also expressed interest in the trading venue that’s set to be launched this year, she said.