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TEMBUSU Asia – First Singapore Validation and Verification Body Accredited by Asia Carbon Institute for Carbon Credit Verification

8 July 2024 - TEMBUSU Asia Consulting (TAC) is now accredited by the Asia Carbon Institute (ACI) as the first Singapore Validation and Verification Body (VVB) to verify carbon credits. This strategic move reinforces TAC’s expertise to drive the regional carbon trading market alongside ACI, catalysing the generation and issuance of high-quality carbon credits to meet the increasing market demand in Asia.

The World Economic Forum projects that Asia's green economy will play a transformative role globally in the next decade, with its market for green businesses expected to reach between USD 4 to 5 trillion by 2030. In 2023, Asia led in terms of carbon credit transaction volume in the voluntary carbon market. Despite a notable pullback from REDD+ projects last year, the Asia carbon market shows ample room for growth.

Meanwhile, carbon credits from engineered projects overtook nature-based credits in 2023. With a special focus on engineered projects such as technology-based and urban-related carbon reduction and removal solutions, ACI provides greenhouse gas mitigation project proponents in Asia an alternative standard that is closer to home for credit registration. TAC will offer its technical expertise and regional knowledge to verify the integrity of the carbon credits based on relevant standards. Pooling their network together, ACI and TAC are expected to expand their reach to more companies in Asia and beyond, providing an avenue for more Asian players to participate in the emerging Asia carbon market.

Celebrating its 6th year anniversary on 7th July 2024, TAC recounts the role it has in driving Singapore corporates’ decarbonisation efforts. From Sustainability-Linked Loans and Resource Efficiency Grants to Verification under Singapore’s Carbon Pricing Act, TAC has been conducting greenhouse gas validation and verification for companies in Singapore as part of the companies’ carbon reduction journeys. Supported by Enterprise Singapore, TAC deepened its capabilities and was accredited by the Singapore Accreditation Council (SAC) for its greenhouse gas verification competencies. This provided greater assurance that TAC’s verification process is aligned to international standards and opened doors for TAC to access new opportunities in the carbon services space.  

To date, TAC has verified over 9.16 million tonnes of greenhouse gas for various industries. With ACI’s accreditation, TAC can support project developers from Asia in fuelling Asia’s decarbonisation agenda. As carbon taxes and Emission Trading System in Asia mature, the demand and value of carbon credits are anticipated to rise in the near future. This timely accreditation by ACI enables TAC to verify the additionality and verifiability of carbon credits from energy, manufacturing and chemical industries to mining, waste, and afforestation and reforestation sectors, giving Asia’s greenhouse gas mitigation project proponents more access to register their carbon credits.

From left to right: Alexander Zehnder (Steering Board Member of ACI), John Lo (Founder of ACI), Tan Seng Chuan (Chairman and Managing Director of TAC) and Lee Shiau Ping (Department Head of Carbon & Sustainability at TAC).


About TEMBUSU Asia

TEMBUSU Asia began operations in July 2018 and has been accredited by the National Environmental Agency (NEA) to conduct greenhouse gas emissions verification under the Carbon Pricing Act since 2019. Subsequently, TAC attained accreditation by the Singapore Accreditation Council as a validation and verification body in 2023. With ACI’s accreditation added to its laurels, TAC is poised to verify carbon credits registered under the ACI program. TAC is also a licensed assurance provider under AA1000AS. For more information, please visit


About Asia Carbon Institute

Asia Carbon Institute (ACI) is a non-profit organisation dedicated to fostering sustainable climate action throughout Asia and beyond. As a voluntary carbon credit standards body and registry, ACI focuses on developing and implementing climate-positive initiatives and tailored solutions to address the unique environmental challenges and opportunities in Asia. ACI's mission is to provide a reliable and substantiated platform for generating, assessing, and validating premium carbon credits. With rigorous project validation and verification protocols, ACI ensures that each carbon credit represents a verifiable, quantifiable, and lasting reduction in greenhouse gas emissions. For more information, please visit


For media enquiries, please contact:

Joy Lim

Training & Development Manager

Phone: 6238 4009


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