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Singapore gets Net Zero-X exchange for investors to invest in climate tech projects

A new blockchain exchange for impact investors has been launched in Singapore.

The Net Zero-X exchange aims to tackle the significant financing gap impeding the global transition to a net zero future.

Open to institutional and accredited investors, the exchange enables sustainability-minded investors to identify and support vetted green, clean, and climate tech projects.

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

Net Zero-X has been launched with its flagship project: the world’s first ‘Drive-In Waste Disposal & Energy Recovery Hub’. This UK-based initiative aims to redirect waste from conventional landfill sites to a state-of-the-art facility, reducing carbon emissions and environmental impact while maximising resource recovery.

It has also identified 60 immediate sustainability projects seeking investment. The platform aims to onboard 500 projects within the next five years, facilitating the deployment of over US$10 billion in impact capital over the next decade.

Net Zero-X’s platform is built on technology by the Singaporean blockchain company Chintai. Chintai can offer full transparency and secure the exchange’s investments as it can provide immutable and verifiable records of all transactions.

To minimise the worst impact of climate change, world leaders signed the 2015 UN’s binding Paris Agreement to reduce emissions significantly in the decades to come, reaching net zero emissions by 2050.

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

However, the de-carbonisation of the world economy requires tremendous financial investments. A study by Allen & Overy and the Climate Policy Initiative estimates that US$6.2 trillion in climate finance is needed annually from now until 2030, after which it will increase to US$7.3 trillion, totalling nearly US$200 trillion to reach the net zero target.

The cost exceeds what the public sector can finance; the net zero emissions goal requires collaboration between governments and businesses. Today, there remains a staggering US$4 trillion annual global financing gap, which the Net Zero-X exchange platform helps tackle.

Image Credit: 123RF.

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