Leadership Changes as CAD Trust Charts Strategic Path to Permanent Governance Model

SINGAPORE, September 4, 2024 — The Climate Action Data Trust (CAD Trust), a leading platform dedicated to aggregating and harmonizing carbon registry data, has unveiled a new strategic roadmap as it embarks on the journey toward establishing a permanent governance model by 2025. This roadmap signals a pivotal transition phase for the organization, originally launched in December 2022 by the World Bank, the International Emissions Trading Association (IETA), and the Government of Singapore.

Central to this transition are significant leadership changes. Executive Director Yuvaraj Dinesh Babu Nithyanandam (Dinesh) will be stepping down, while Federico Di Credico, a seasoned leader with deep involvement in climate initiatives, has been appointed as the interim CEO. Additionally, Ieva Steponaviciute will take on the newly created role of Director for Strategy and Outreach, underscoring CAD Trust’s commitment to strategic growth and broader engagement.

Strengthening CAD Trust’s Role in Global Carbon Markets

The newly announced roadmap is designed to solidify CAD Trust’s position as a cornerstone of global carbon markets. Key initiatives include expanding data coverage by onboarding additional independent and national programs, piloting transparency and integrity solutions, and refining the CAD Trust data model to support global carbon market harmonization efforts. These efforts align with the broader goal of creating a robust, transparent, and efficient digital infrastructure for Paris-aligned carbon markets.

The World Bank’s Climate Warehouse team will continue to play a crucial role during this transition, offering intensified support to CAD Trust in capacity building and operationalizing Article 6 frameworks. This partnership will be key to enhancing CAD Trust’s capabilities as it prepares for permanent governance.

Leadership Reflections and Future Vision

Reflecting on his tenure, Yuvaraj Dinesh Babu Nithyanandam expressed pride in the organization’s achievements under his leadership. “The progress CAD Trust has made in establishing itself as a significant player in driving transparency within global carbon markets is truly remarkable,” he said. Dinesh will remain engaged with CAD Trust in various capacities as he transitions to new career opportunities.

Interim CEO Federico Di Credico acknowledged the solid foundation laid by Dinesh and emphasized the importance of continuity during this critical phase. “CAD Trust’s impressive achievements are a testament to the strong governance and collaborative efforts that have driven the organization forward,” Federico noted. He affirmed his commitment to maintaining transparency, accountability, and strategic alignment with CAD Trust’s mission as the organization navigates this next phase.

Looking Ahead

With the Singapore government and international partners like the World Bank providing continued support, CAD Trust is well-positioned to achieve its goal of transitioning to a permanent governance model by 2025. As the organization moves forward, it remains dedicated to fostering a sustainable, low-carbon future through its pioneering work in enhancing transparency and integrity in global carbon markets.