Temasek's GenZero and Rwanda team up to advance carbon credit initiatives

The agreement will support projects focused on both carbon reduction and removal.

GenZero, Temasek’s decarbonisation-focused investment subsidiary, has inked a collaboration agreement with carbon credit certification body Gold Standard, the Rwanda Green Fund, and the Rwanda Environment Management Authority to develop a pipeline of Article 6-compliant carbon credit projects in Rwanda.

Under the agreement, projects are expected to cover both carbon reduction and removal activities whitelisted by the Rwanda government for Article 6. 

Rwanda and GenZero will jointly study and assess the potential for such projects. Successful projects will undergo due diligence and a screening process, ensuring they meet the criteria set by the Rwandan government and GenZero before seeking certification from Gold Standard.

“These projects will then be able to issue credits that come with Corresponding Adjustments (CAs), which will ensure that the underlying mitigation is not double counted when claimed towards international compliance targets,” the parties said.

Eligible projects will follow Gold Standard’s methodologies and certification requirements, whilst GenZero will set investment parameters and evaluate proposals for commercial viability, considering factors such as mitigation potential, project maturity, and financial returns.