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☆ Why Singapore is quickly becoming the choice location for firms to support global carbon markets
▼ + stars: | 2024-02-15 | by ( Sponsor Post | ) www.businessinsider.com time to read: +7 min

Carbon credits continue to play an important role in the global transition towards net zero. As an innovative financing mechanism, carbon credits allow corporates to mobilize capital to support emission-reduction projects. The decision to anchor CAD Trust in Singapore stems from acknowledging that transparency and governance are rooted in its DNA. Why Singapore is a prime location for firms to support global carbon marketsSingapore has successfully attracted more than 100 carbon market and services players to establish the city-state as their home base in Southeast Asia. Singapore's expertise in carbon services and its trailblazing move implementing Southeast Asia's first carbon tax in 2019, also appealed to Calyx Global.

Persons: — Dinesh Babu, Grace Fu, Duncan van Bergen, Van Bergen, — Duncan van Bergen Organizations: Reuters, Singapore, for Nature, National University of Singapore, Data Trust, Government of, Emissions Trading Association, Singapore's, Sustainability, Meta, Trust, Insider Studios, Singapore Economic Development Board Locations: Dubai, Singapore, Government of Singapore, South Asia, Southeast Asia, Oceania, Africa, Paris, Bhutan, COP28, Asia

Here's what you need to know:WHAT ARE CARBON OFFSETS? Supporters of carbon offsets see them as key means to help meet these goals. At the COP26 climate summit in Glasgow, negotiators reached a breakthrough agreement to regulate trading of carbon credits, in schemes first envisioned in Article 6 of the 2015 Paris Agreement. Separate from the offsets trading envisioned under the Paris Agreement, there are two existing types of carbon markets – compliance and voluntary. It is not yet clear how various existing carbon markets might play into the U.N.-run trading scheme, which also would depend on national laws.

Persons: Chris Pryor, Elizabeth Frantz, WHAT'S, Marco Berg, Gilles Dufrasne, IETA, Jake Spring, Kate Abnett, Susanna Twidale, Katy Daigle, Josie Kao Organizations: New England Forestry Foundation, REUTERS, KliK Foundation, BE, Carbon Market Watch, Compliance, European Union, London Stock Exchange Group, Thomson Locations: New, Hersey, New Hampton , New Hampshire, U.S, Glasgow, Paris, U.S ., California

Signage is seen at the headquarters of the U.S. Securities and Exchange Commission (SEC) in Washington, D.C., U.S., May 12, 2021. SEC Chair Gary Gensler said the rules will increase transparency and competition in the private funds industry, which oversees around $20 trillion in assets and has been accused by advocacy groups of opacity and conflicts of interest. The changes require private funds to issue quarterly fee and performance reports and to perform annual audits. Bryan Corbett, chief executive officer of the Managed Funds Association (MFA), said the rules will increase costs for investors and curb competition, he added. The other petitioners are the National Venture Capital Association, American Investment Council, Alternative Investment Management Association, National Association of Private Fund Managers and the Loan Syndications & Trading Association.

Persons: Andrew Kelly, Gary Gensler, Bryan Corbett, Carolina Mandl, Jonathan Oatis, Peter Graff, Cynthia Osterman Organizations: U.S . Securities, Exchange Commission, SEC, Washington , D.C, REUTERS, Friday, Funds, U.S, Circuit, Appeals, National Venture Capital Association, American Investment Council, Alternative Investment Management Association, National Association of Private Fund, Trading Association, Gensler's SEC, Thomson Locations: Washington ,, New York

☆ SEC punts on whether syndicated loans are securities, in closely watched appeal
▼ + stars: | 2023-07-19 | by ( Alison Frankel | Thomson Reuters | Alison Frankel Has Covered High-Stakes Commercial Litigation As A Columnist For Reuters Since A Dartmouth College Graduate | ) www.reuters.com time to read: +7 min

Law firm alerts have gone so far as to call the appeal an “existential threat” to the entire syndicated loan market. The SEC later added to the suspense by requesting two more extensions from the 2nd Circuit, noting the complexity of the issue. On the other hand, any remaining uncertainty will be resolved as soon as the 2nd Circuit issues a ruling. But it’s a good bet that the trustee's lawyers from McKool will urge the 2nd Circuit to read the SEC’s silence as proof of the complexity of the issue. An earlier version incorrectly reported that Judge Michael Park was part of the 2nd Circuit panel that heard oral argument.)

Persons: Cromwell, JPMorgan Chase, Marc Kirschner, Paul Gardephe, Manhattan, Gardephe, McKool Smith, Jose Cabranes, Joseph Bianco, Myrna Perez, ”, Malcolm Stewart, Christopher Johnson, McKool, SEC wouldn’t, Michael Park, Alison Frankel, Leigh Jones Organizations: Sullivan, U.S . Securities, Exchange Commission, U.S, Circuit, SEC, 2nd, JPMorgan, Millennium, U.S . Justice Department, District, Trading Association, Securities Industry, Financial Markets Association, Justice Department, U.S . Treasury Department, Thomson, Reuters Locations: U.S .

☆ Analysis: Clock ticking for loan market as Libor nears its end
▼ + stars: | 2023-02-16 | by ( John Mccrank | ) www.reuters.com time to read: +5 min

REUTERS/Dado Ruvic/IllustrationNEW YORK, Feb 16 (Reuters) - It's crunch time for the corporate loan market. "The shot clock is on," said Tal Reback, who leads KKR's global Libor transition efforts. The Libor transition began in 2017 and had been smooth until 2022, when rising interest rates, decades-high inflation, Russia's war on Ukraine and recessionary fears rocked markets. "The new issue market shut down," said Ian Walker, head of legal innovation at financial information provider Covenant Review. Libor was phased out for new contracts at the end of 2021, though most existing U.S. dollar-denominated contracts have until June 30 to switch.

☆ IETA discusses how a new initiative might address the lack of standardization in carbon markets
▼ + stars: | 2022-12-09 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailIETA discusses how a new initiative might address the lack of standardization in carbon marketsDirk Forrister of the International Emissions Trading Association discusses the launch of the Climate Action Data Trust, a joint initiative with the World Bank and Singapore government.

Private-sector efforts also have sprung up offering credits for "voluntary" carbon markets, while a range of registries such as Verra and Gold Standard is accrediting and tracking them. The new database - called the Climate Action Data Trust (CAD Trust) - aims to address these issues by collating all the project and carbon credit data in one place and making it free to the public. It brings us up to speed with what is required within the carbon markets," he said. He said Bhutan is in discussions with possible buyers who want details about how carbon credits from its forests are being registered, verified and monitored. "The CAD Trust meets all the technical requirements of host countries and buyers."

SHARM EL-SHEIKH, Nov 21 (Reuters) - Beyond the headlines from the annual U.N. climate conference, progress in advancing the global climate agenda relies on the behind-the-scenes efforts of technocrats over years. Offsets allow countries or companies to pay others to cut greenhouse gas emissions to make up for their own. But discussions on how to curb those emissions are relatively new within U.N. climate negotiations. The work also deals with food security and the economic impacts of global warming. As the initial mandate expired, countries at COP27 authorised the KJWA work to continue for another four years.

The initiative, expected to launch on Wednesday at the COP27 Summit in Egypt, proposes that companies buy carbon credits and the proceeds be used to fund renewable energy projects in countries seeking to replace fossil fuels such as coal, the people said. Voluntary carbon markets are expanding rapidly, whereby credits are generated by activities including tree planting and solar power projects, although concerns persist about these credits being outside regulated markets. Companies do not necessarily have big operations that they need to decarbonize in countries looking at transition deals such as Indonesia and Senegal, however. Fossil fuel producers are excluded from participating in the proposed scheme, the people said, although the industry has been one of the largest users of carbon markets to date. "Right now, the idea is it should be narrowly applied to be bought by non-fossil fuel companies like tech companies and banks, which would restrict private sector demand."

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