Geneva, 31 March -  Today, a strategic meeting took place marking a significant step forward in enhancing emissions reductions and sustainability practices in Singapore. Held between the World Business Council for Sustainable Development (WBCSD), the Partnership for Carbon Transparency (PACT), and the Singapore Emissions Factor Registry (SEFR), an initiative led by the Singapore Business Federation (SBF), the meeting laid the grounds for collaborative efforts to accelerate the reduction of carbon emissions among Singapore and APAC-based companies.

The discussion focused on exploring a partnership between SEFR and PACT. Singapore’s progressive carbon tax increases—from S$5 per ton of CO2 equivalent in 2019 to a targeted S$50-80 by 2030, as well as mandatory climate-related disclosure regulations, highlight the strategic imperative for robust carbon accounting and strategic management. The meeting reinforced the importance of transparent carbon practices for effective adaptation to regulatory changes.

Representatives also discussed how a collaboration between WBCSD and Singapore could bolster emissions reductions. With an eye toward Singapore’s carbon leadership ambition, WBCSD can support corporate performance and accountability improvements, accelerate supply chain action, and build cooperative capabilities through education.

WBCSD and PACT discussed how they could support Singapore's climate objectives, enabling companies to lead with innovation and sustainability and empowering them to meet national and global climate commitments.

As PACT remains dedicated to facilitating this meaningful partnership, this dialogue represents a significant step in our mission to advance transparency in carbon accounting and promote decarbonization across global value chains.

Stay tuned for updates and further announcements during Ecosperity in May 2025, where additional information is expected to be shared.