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Singapore’s New Mapping Tool for Nature-Based Carbon Credits

Image credits: news.nus.edu.sg

During the World Economic Forum – Champions for Nature event in New York, interactive mapping software that will allow the prospecting, development, and management of nature-based carbon credit projects worldwide were recently introduced.

“This made-in-Singapore dashboard could be a game-changer for nature-based climate solutions globally. Carbon finance has the potential to channel much-needed funding to forest and mangrove conservation to tackle climate change and safeguard precious biodiversity,” says Professor Koh Lian Pin, Director, National University of Singapore (NUS)-Centre for Nature-based Climate Solutions (CNCS).

However, many nature-based carbon projects have been hampered by a lack of timely access to reliable data on the costs and benefits of potential projects. Policymakers and investors now have access to the information they require thanks to this platform.

The Carbon Prospecting Dashboard was created in collaboration with the CNCS, a research centre within the Faculty of Science at NUS, and ST Engineering’s satellite data and geospatial analytics business, ST Engineering Geo-Insights.

By assisting policymakers and investors in determining the locations where nature-based projects can be developed as potential sources of high-quality carbon credits, this dashboard, which is a first of its kind, promotes the preservation of carbon-rich, natural ecosystems like tropical forests and mangroves.

Based on user-defined parameters such as project duration, expenses, and carbon pricing, the platform enables users to compute the projected yield of carbon credits and their financial return on investment.

Users of the website can also calculate the additional advantages of projects, such as increased food security, clean water supplies, and biodiversity preservation in important locations. The hunt for high-quality carbon offsets and the price transparency of carbon credits can both be improved with knowledge of these co-benefits.

The Carbon Prospecting Dashboard will aid in closing significant research and development gaps that have impeded the application of nature-based climate solutions on a global scale. These gaps include ambiguities over the locations of the most promising carbon stores, how rising carbon pricing will affect how profitable it will be to maintain nature, and which natural ecosystems will benefit society the most in the future.

Right now, there is a shortage of high-quality carbon credits derived from nature. This dashboard identifies the most potential carbon project sites to give the greatest benefit to the climate, wildlife, and people, shortening the normally time-consuming and expensive process of prospecting for carbon.

As deforestation is a major source of greenhouse gas emissions, preserving the environment through high-quality carbon initiatives can assist to shut off the flow of emissions and reduce the quantity of carbon dioxide in the atmosphere. This dashboard assists governments, corporations, and civil society in addressing climate change and biodiversity loss in tandem with nature.

Protecting and rebuilding forests, mangroves, and other carbon-rich ecosystems is crucial if every nation is to escape climate change’s most devastating effects. The platform and the science on which it is founded arrive at a crucial time for the world and make nature conservation more accessible, investable, and scalable.

Nature-based carbon solutions could tackle a third of the climate change problem; preserving and managing intact habitats yields more than just carbon; it can help mitigate the extinction disaster. This will make it easier for businesses and states to become carbon neutral and environmentally friendly.

ST Engineering contributes its geospatial analytics expertise and experience in offering insights with added value to diverse industry sectors to this collaborative effort. This cloud-based carbon prospecting tool will position Singapore for future development of a digital Monitoring, Reporting, and Verification platform to enhance nature-based carbon solutions toward decarbonisation.

PARTNER

Qlik’s vision is a data-literate world, where everyone can use data and analytics to improve decision-making and solve their most challenging problems. A private company, Qlik offers real-time data integration and analytics solutions, powered by Qlik Cloud, to close the gaps between data, insights and action. By transforming data into Active Intelligence, businesses can drive better decisions, improve revenue and profitability, and optimize customer relationships. Qlik serves more than 38,000 active customers in over 100 countries.

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As a Titanium Black Partner of Dell Technologies, CTC Global Singapore boasts unparalleled access to resources.

Established in 1972, we bring 52 years of experience to the table, solidifying our position as a leading IT solutions provider in Singapore. With over 300 qualified IT professionals, we are dedicated to delivering integrated solutions that empower your organization in key areas such as Automation & AI, Cyber Security, App Modernization & Data Analytics, Enterprise Cloud Infrastructure, Workplace Modernization and Professional Services.

Renowned for our consulting expertise and delivering expert IT solutions, CTC Global Singapore has become the preferred IT outsourcing partner for businesses across Singapore.

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Planview has one mission: to build the future of connected work. Our solutions enable organizations to connect the business from ideas to impact, empowering companies to accelerate the achievement of what matters most. Planview’s full spectrum of Portfolio Management and Work Management solutions creates an organizational focus on the strategic outcomes that matter and empowers teams to deliver their best work, no matter how they work. The comprehensive Planview platform and enterprise success model enables customers to deliver innovative, competitive products, services, and customer experiences. Headquartered in Austin, Texas, with locations around the world, Planview has more than 1,300 employees supporting 4,500 customers and 2.6 million users worldwide. For more information, visit www.planview.com.

SUPPORTING ORGANISATION

SIRIM is a premier industrial research and technology organisation in Malaysia, wholly-owned by the Minister​ of Finance Incorporated. With over forty years of experience and expertise, SIRIM is mandated as the machinery for research and technology development, and the national champion of quality. SIRIM has always played a major role in the development of the country’s private sector. By tapping into our expertise and knowledge base, we focus on developing new technologies and improvements in the manufacturing, technology and services sectors. We nurture Small Medium Enterprises (SME) growth with solutions for technology penetration and upgrading, making it an ideal technology partner for SMEs.

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HashiCorp provides infrastructure automation software for multi-cloud environments, enabling enterprises to unlock a common cloud operating model to provision, secure, connect, and run any application on any infrastructure. HashiCorp tools allow organizations to deliver applications faster by helping enterprises transition from manual processes and ITIL practices to self-service automation and DevOps practices. 

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IBM is a leading global hybrid cloud and AI, and business services provider. We help clients in more than 175 countries capitalize on insights from their data, streamline business processes, reduce costs and gain the competitive edge in their industries. Nearly 3,000 government and corporate entities in critical infrastructure areas such as financial services, telecommunications and healthcare rely on IBM’s hybrid cloud platform and Red Hat OpenShift to affect their digital transformations quickly, efficiently and securely. IBM’s breakthrough innovations in AI, quantum computing, industry-specific cloud solutions and business services deliver open and flexible options to our clients. All of this is backed by IBM’s legendary commitment to trust, transparency, responsibility, inclusivity and service.