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Singapore Launches Net Zero-X Exchange for Climate Tech Investment

A new blockchain exchange catering to impact investors has recently launched in Singapore. The Net Zero-X exchange aims to address the significant financing gap that is hindering the global transition towards a net-zero future.

Open to institutional and accredited investors, this exchange provides a platform for sustainability-focused investors to discover and support vetted green, clean, and climate tech projects.

Also Read: Asia’s climate tech: Communicating solutions and avoiding greenwashing

The flagship project of Net Zero-X is the world’s first ‘Drive-In Waste Disposal & Energy Recovery Hub,’ based in the UK. This initiative aims to divert waste from traditional landfill sites to an advanced facility, reducing carbon emissions and environmental impact while maximizing resource recovery.

The platform has already identified 60 immediate sustainability projects in need of investment. Over the next five years, Net Zero-X plans to onboard 500 projects, facilitating the deployment of over US$10 billion in impact capital in the next decade.

Powered by technology from the Singaporean blockchain company Chintai, Net Zero-X’s platform offers full transparency and security for investors. Chintai’s technology provides immutable and verifiable records of all transactions on the exchange.

In order to combat the worst effects of climate change, global leaders signed the Paris Agreement in 2015, committing to significant reductions in emissions with the goal of achieving net zero emissions by 2050.

Also Read: Driving innovation for a sustainable future: Top climate tech investments of H1 2024

However, the transition to a decarbonized world economy requires substantial financial investments. A study by Allen & Overy and the Climate Policy Initiative estimates that annual climate finance of US$6.2 trillion is needed until 2030, increasing to US$7.3 trillion thereafter, totaling close to US$200 trillion to achieve the net zero target.

The public sector alone cannot fund this cost; achieving net zero emissions requires collaboration between governments and businesses. Currently, there is an annual global financing gap of US$4 trillion, which the Net Zero-X exchange platform aims to help address.

Image Credit: 123RF.

The post Singapore gets Net Zero-X exchange for investors to invest in climate tech projects appeared first on e27.


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