Singapore, August 29, 2023 - The British Standards Institution (BSI) is pleased to announce its strategic partnership with the Asia Carbon Institute (ACI), via the signing of a Memorandum of Understanding (MoU) today in Singapore. BSI's collaboration with ACI underscores our commitment to driving innovation and transparency in the realm of carbon credits.
BSI is a business standards company, established in 1901 with 'responsibility to society' as one of its main objectives and this has never been more relevant than it is today. Our focus is on sustainability, digital trust and society’s well-being. We are a signatory of the UN Global Compact, the world's largest sustainability network, and are proud to support its principles, as well as the UN Sustainable Development Goals.
ACI is a non-profit organization, embarking on a mission to provide certification and registration of carbon credits, with a specific emphasis on technology-based and urban-related solutions. Recognizing the rapid growth and unique challenges posed by Asia, ACI aims to bridge the existing gaps in the voluntary carbon market across the region and beyond.
ACI and BSI’s partnership will focus on the joint development and pilot testing of innovative solutions aimed at enhancing the efficiency of validation and verification processes, as well as increasing transparency within the carbon credit sector.
Harold Pradal, Chief Commercial Officer at BSI, expressed his enthusiasm, stating, "Our partnership with ACI is a significant step towards delivering the changes needed for a low-carbon future. Together, we can drive transparency, innovation, and tangible improvements for organizations worldwide. Our shared ambition is to accelerate progress toward a sustainable world, benefitting both people and the planet."
Asia, as the world's fastest-developing region, hosts over 60% of the globe's megacities and houses numerous carbon-intensive manufacturing industries. However, the focus on carbon credits addressing these areas has been limited. Voluntary carbon credits play a pivotal role in incentivizing the adoption of sustainable practices.
John Lo, the founder of ACI, emphasized, "Nature-based solutions alone cannot lead us to Net Zero emissions by 2050; we require diverse reduction and removal solutions. Technology-based and urban-related solutions are especially pertinent to Asia, and this is where ACI directs its efforts."
BSI is excited to embark on this journey of collaboration with ACI and contribute to the transformative changes needed to address climate challenges in the dynamic Asian region and beyond.
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