Business professionals can look forward to a new executive education programme on carbon trading by partners NUS Business School, NUS Centre for Nature-based Climate Solutions (CNCS) and Climate Impact X.

The programme “Climate change and sustainability: Leveraging carbon market initiatives for business” aims to guide organisations on their carbon management strategies. The fully-subscribed inaugural course saw some 30 participants from sectors such as energy, mining, commodities and finance in its debut run in June. The next run is scheduled for 5 to 7 December 2022.

The carbon opportunity

“Companies can use quality carbon credits to complement direct cuts in emissions as part of a holistic and credible high-ambition pathway to net-zero. They are a viable means for the corporate sector to compensate for some of their emissions,” said Mikkel Larsen, CEO, Climate Impact X and Co-Chair of the programme.

Organisations can create social impact through carbon trading. “Carbon credits can help catalyse change by creating a steady flow of additional income for local communities and people, by making impactful projects economically viable sooner and over the long run,” said Larsen.

On the other hand, organisations face pressure from their stakeholders, such as their customers and suppliers, to take action about climate change. “Businesses are now very eager to learn how to respond to the challenges and the new demands of climate change,” Professor Koh Lian Pin, Director, NUS Centre for Nature-based Climate Solutions (CNCS) and Professor of Biological Sciences at NUS Faculty of Science. He is Co-Chair of the programme.

The programme participants felt that they gained valuable insights into the carbon market and climate change. “It is a great way to learn both the technicalities and context of the carbon market landscape, including how it has evolved from the past and how it may change in the future,” said Nicole Mah, Senior Manager, National Climate Change Secretariat.

“It’s highly recommended for anyone interested in exploring the nuances of the carbon market and the challenges humanity faces,” said Daniel Brebner, Senior Manager, Global Energy, Rio Tinto.

The next run of “Climate change and sustainability: Leveraging carbon market initiatives for business” is scheduled for 5 to 7 December 2022. Please visit the programme site for more information.

Participants at the inaugural June class

Building a carbon strategy

The programme covers climate change-related policies and frameworks, corporate carbon strategies and the carbon trading market. It also serves as a key platform for understanding the opportunities and risks in carbon management.

“It’s very important for companies to know what type of carbon offsets to consider. So this programme will help companies understand what high-quality carbon offsets are and where to look for them. And what are the considerations and the risks when they are buying carbon offsets in the future for their businesses?” said Prof Koh.

For instance, the programme provides information on the international standards for carbon projects and how these standards ensure the quality of carbon projects, added Prof Koh. He taught a session on climate change’s impact on Singapore.

Even for companies already on the carbon management roadmap, external pressure is on them to do things well. “Stakeholders, including consumers, investors and regulators, are demanding that corporations manage their carbon-based activities well,” said Professor Lawrence Loh, Director, Centre for Governance and Sustainability, NUS Business School. He is also the Programme Director for the course.

Prof Loh facilitated the panel discussions and teaching at the programme. The inaugural programme adopted a hybrid format with global experts linking remotely from overseas.

At the right time

The “Climate change and sustainability: Leveraging carbon market initiatives for business” programme has launched at the right time as the Singapore government is steering the city-state to be a carbon hub for the region.

“The offering of our carbon trading Executive Education programme aligns with Singapore’s intent to be a vibrant global hub for carbon management services, particularly a carbon exchange and marketplace here,” said Prof Loh.

Meanwhile, the participants agreed that the programme was informative and allowed them to network. “If you’re looking to understand the big picture of how to leverage carbon market initiatives for business, this program offers the perfect opportunity with knowledgeable expert lecturers and fantastic networking opportunities with people from diverse backgrounds and nationalities,” said Emma Larsson, Director HR & Group ESG Officer, ESR.