Singapore, Aug. 5 -- The Singapore Carbon Market Alliance (SCMA) was launched recently, serving as a national platform that will help connect developers of carbon credit projects with potential buyers.

The SCMA launch was announced by Senior Minister of State for Trade and Industry Low Yen Ling at the Bloomberg Sustainable Business Summit on July 31.

The alliance will help buyers keen on sourcing high-quality credits identify reliable projects, as it will deal with projects that supply credits compatible with the Paris Agreement on climate change. Corporations based in Singapore could buy these credits to advance their climate goals and offset part of their carbon tax.

One carbon credit represents one tonne of carbon dioxide (CO2) that...