Singapore – Daniel Chan, Chief Sustainability Officer at Ascent Solutions Pte Ltd and Head of Product at CO2 Connect (CO2X) Pte Ltd, highlighted that cross-border green finance tools and advanced digital platforms for carbon data sharing are crucial for the newly launched Chongqing-Singapore Green and Digital Economic Corridor.
The corridor is leveraging the Ministry of Industry and Information Technology's Xinghuo Blockchain Network to enable digital interconnection and mutual recognition of maritime bills of lading between Chongqing and Singapore. This initiative connects maritime and rail bills of lading through a "dual-chain" system, promoting the large-scale adoption of digital bills of lading.
CO2 Connect (CO2X) Pte Ltd is a Singapore-based company that provides digital solutions for transparent carbon footprint measurement, verification, and cross-border trading to support sustainable practices and emission reduction projects. Chan shared these insights during an exclusive interview at the China-Singapore (Chongqing) Connectivity Initiative – New International Land-Sea Trade Corridor (CCI-ILSTC) Trade and Financial Conference on June 11.
Chan highlighted the potential of the CCI corridor to leverage Singapore's position as Asia's green finance hub and Chongqing's strategic role as a key logistics and manufacturing center in Western China. "Green loans, sustainability-linked bonds, and specialised financial guarantees will be crucial for deploying clean energy infrastructure and low-carbon logistics technologies along this vital trade route," Chan emphasized.
A key focus is on trusted carbon accounting and exchange. Chan emphasized solutions like Ascent Solutions' CO2 Connect platform, which facilitates transparent measurement, verification, and potential cross-border trading of carbon footprints. "Accurate data sharing through platforms like CO2X can build trust, enabling companies on both ends to confidently invest in verified emission reduction projects within the corridor," he explained.
This digital backbone is vital for tracking emissions across complex international supply chains. He positioned the corridor as a strategic pathway to "democratise access to sustainable trade finance" for businesses in Western China while offering Singaporean financial institutions and tech providers scalable opportunities.
Chan said that integrating Singapore’s financial expertise and digital carbon solutions with Chongqing’s industrial base offers a powerful model for reducing emissions along crucial trade arteries, aligning the corridor’s development with regional net-zero ambitions.
(Huan Ran, as an intern, also contributed to the report.)