Global Coalition Launches to Standardise Carbon Credit Markets

Singapore, the UK, and Kenya have come together to launch a global coalition aimed at streamlining voluntary carbon markets and setting unified rules for carbon credit use.

Three young trees in the foreground with businessmen from Singapore, the UK, and Kenya standing nearby, framed by a modern urban skyline. AI generated picture.

Unveiled during London Climate Action Week, the Coalition to Grow Carbon Markets will develop common principles for applying carbon credits across borders—bringing more transparency, consistency, and trust to the evolving carbon economy. The guidelines are expected to be completed before COP30 in Brazil this November.

This move addresses growing pressure from companies seeking clearer direction on how to integrate carbon credits into their sustainability strategies. By setting shared standards, the coalition hopes to attract more private investment and boost confidence in carbon markets as a reliable tool for green finance.

At the helm of the coalition are sustainability representatives from the three founding nations: Singapore’s Climate Ambassador Ravi Menon, Kenya’s Special Climate Envoy Ali Mohamed, and Rachel Kyte, the UK’s Climate Representative. The coalition has made it clear that close collaboration with the business sector will be a core part of its mission, especially in designing incentives for credible, results-driven carbon strategies.

‘To help unlock private sector finance at the scale and pace needed to support global climate ambitions, we must energise the carbon markets’, said Singapore’s Minister for Sustainability and the Environment, Grace Fu. ‘This Coalition will help foster investor and stakeholder confidence, and strengthen the integrity and interoperability of these markets while delivering real emissions reductions.’

UK Minister for Climate, Kerry McCarthy, added: ‘The UK is championing the responsible use of carbon credits by taking action to spearhead global efforts to raise integrity, supporting UK businesses to grow these markets and delivering growth through the Plan for Change.’

To strengthen its work, the coalition is partnering with the Integrity Council for the Voluntary Carbon Market (ICVCM), which sets global quality benchmarks for carbon credits. This collaboration is designed to improve market integrity and narrow the gap between buyers and suppliers of carbon offsets.

As international cooperation on carbon markets gains traction, this coalition signals a new phase of alignment, making it easier for businesses to take meaningful green action through high-quality, verified carbon credits.