UNITY GP HLDGS completes carbon credit qualification PIN number registration
UNITY GP HLDGS has completed the registration of carbon credit qualification PIN number and obtained climate consultant review. The carbon credits generated from EMC business will be certified after project review, and for every ton of emission reduction achieved by customers, UNITY Green Building will receive 1 unit of carbon credit. Carbon credits can be traded on trading platforms for cash. It is expected to obtain approximately 42,400 tons of carbon credits in the initial ten years, with future deployments bringing more certifications. In addition, UNITY Labuan has appointed Tek Securities as financial advisor and plans to issue 200 million yuan of private placement climate Islamic bonds
According to the announcement from UNITY GP HLDGS (01539), the group has completed the review of its EMC business by climate consultants, and subsequently, UNITY Green Building successfully obtained a PIN number. Once the project review is completed and approved by Verra, the carbon credits generated from the EMC business conducted globally under the approved agreement will be certified and attributed to the group.
For every ton of verified potential carbon dioxide reduction achieved by clients through the adoption of EMC business, UNITY Green Building will receive 1 unit of carbon credit. Carbon credits can be traded on recognized trading platforms for cash.
According to statutory requirements in multiple jurisdictions, companies are required to purchase carbon credits to offset their carbon dioxide or other greenhouse gas emissions. Failure to fulfill this obligation will result in the need to pay corresponding amounts under applicable laws and regulations (commonly referred to as carbon tax). Based on available information obtained by the group (subject to further research), the Singapore government will impose a carbon tax of SGD 45 per ton starting in 2026, while the current trading price of each unit of carbon credit in Europe is approximately EUR 73. Therefore, the carbon credits obtained by the group will be considered additional assets generated from the EMC business, without incurring any extra production costs. The group currently expects to obtain relevant carbon credits generated from the EMC business during the initial ten-year period from the deployment of the related EMC business, with the possibility of extending for another ten years. Based on the group's best estimates made from the confirmed deployment of the EMC business, it is currently expected that the group can obtain approximately 42,400 tons of carbon credits annually. Further deployment of the EMC business is expected to bring more carbon credit certifications to the group.
In addition, UNITY Labuan has appointed Tek Securities as its financial advisor to provide advice on the proposed issuance of privately placed climate Islamic bonds with a face value of RMB 200 million, subject to approval by the Labuan Financial Services Authority. The proceeds from this issuance will be used to fund the development of the EMC business
