Coalition to Grow Carbon Markets launches collective government-backed framework to boost corporate demand for high-integrity carbon credits

27 November 2025

On 5 November 2025, the National Climate Change Secretariat (“NCCS”) announced that the Coalition to Grow Carbon Markets (“Coalition”) has launched the Shared Principles for Growing High-Integrity Use of Carbon Credits by Companies and Other Buyers (“Shared Principles”), a set of shared principles providing consistency across countries to boost corporate demand for high-integrity carbon credits as a complement to direct emissions reductions.

The Shared Principles are backed by multiple governments and were issued at the COP30 Business and Finance Forum, alongside a Plan of Action. They set out the Coalition’s forward-looking agenda to promote the development of carbon markets through supportive policies and incentives.

The Coalition aims to drive climate-positive growth and accelerate the pace of emissions reductions worldwide by strengthening the incentives businesses need to invest in high-integrity carbon credits across carbon markets, including voluntary and Article 6 markets. The Shared Principles will also provide companies with the clarity and confidence they need to purchase carbon credits as part of credible decarbonisation plans.

This announcement has been welcomed by the Coalition’s partners, including the World Business Council for Sustainable Development (“WBCSD”), International Chamber of Commerce, and International Emissions Trading Association, which have worked closely with the Coalition to inform and shape the outputs. It has also been welcomed by the Integrity Council for the Voluntary Carbon Market which is working with the Coalition to support alignment between the demand and supply sides of the market. A business advisory group, convened by WBCSD and made up of senior representatives from across sectors, will provide ongoing corporate input into the Coalition activities.

The Shared Principles are also supported by a range of climate, sustainable development, and finance organisations.

Internationally aligned framework for corporate use of carbon credits

The Shared Principles establish the following six pillars for corporate use of carbon credits:

  • Using carbon credits in addition to decarbonisation;
  • Ensuring rigorous quality standards;
  • Upholding fair value and social benefits;
  • Maintaining transparent reporting;
  • Making accurate, substantiated claims; and
  • Actively supporting market development.

These pillars achieve international alignment on critical questions about the role of carbon credits and will inform national policies and incentives to unlock private sector investment in climate solutions through carbon markets.

In endorsing the Shared Principles, each government commits to explore, develop, and continue pursuing supportive policies or regulations aligned with the framework. This could include stronger government recognition for companies that follow the Shared Principles.

Plan of action to strengthen carbon markets

To ensure that the Shared Principles are translated into higher levels of investment, the Coalition published its Plan of Action to guide the Coalition’s work through to COP33 and map a clear path to impact.

The Plan of Action is built on the premise that clear, consistent, and stable government signals and incentives drive corporate demand. It details the “ambitious steps” the Coalition will take while respecting the national circumstances of its members. These steps include the following:

  • Policy implementation: Expand Coalition membership, support governments in adopting Shared Principles-aligned policies and incentives, and foster ongoing dialogue among governments, businesses, and international standard-setters to reduce fragmentation.
  • Capital mobilisation with equitable pricing and access: Engage buyers’ networks to aggregate and scale demand, and collaborate with academic partners and existing initiatives to demonstrate the positive impact of responsible carbon credit demand.
  • Market development: Develop internationally consistent guidance in collaboration with existing initiatives, and support interoperable, transparent infrastructure through engagement with global efforts.

Reference materials

The press release is available on the NCCS website www.nccs.gov.sg.