KUALA LUMPUR, Malaysia, 12 November 2025 – Saxon Renewables today announced the official registration of its EVolve Grouped Electric Vehicle (EV) charging project under the Verified Carbon Standard (VCS) by Verra (Project ID: 5416), registered on 6 November 2025, marking a regional milestone in bridging climate finance and clean mobility across Asia.
The project is registered under the Verra VM0038 Methodology for Electric Vehicle Charging Systems, which enables emissions reductions to be quantified and issued as Verified Carbon Units (VCUs) by comparing electricity consumed for EV charging against emissions that would have been generated from equivalent travel in internal combustion engine (ICE) vehicles.
Designed to accelerate the growth of electric mobility, EVolve connects carbon-credit revenue directly to the commercial model of EV-charging deployment. By integrating carbon monetisation into charging infrastructure, the project closes critical financing gaps that often slow EV adoption.
Under EVolve’s grouped approach, multiple EV-charging networks can be aggregated under a unified methodology and monitoring system, significantly reducing registration costs, complexity, and time-to-market for charge point operators (CPOs).
“By unlocking new carbon revenue streams, we help charge point operators, fleet owners, and infrastructure partners scale faster, reduce payback periods, and enable more cities to accelerate EV adoption,” said Reik Ong, Managing Director of Saxon Renewables.
“The voluntary market is already responding positively to EVolve, with buyers actively seeking high-integrity transportation credits. Our next phase is to prepare EVolve for compliance channels such as Singapore’s carbon tax and CORSIA, which would significantly broaden market demand and strengthen long-term price resilience.”
As the first grouped EV-charging carbon project of its kind in Southeast Asia (excluding Singapore), EVolve will progressively onboard charge point operators across Malaysia, Vietnam, Thailand, Indonesia, and the Philippines, with an expansion pipeline to broader Asia-Pacific markets. The project targets the deployment and integration of 30,000 charge points by 2030.
Registered for a seven-year crediting period (2024-2031), with renewal options for up to two additional periods, EVolve is expected to generate approximately 300,000 tonnes of CO₂e in verified emissions reductions over its initial term.
The programme directly supports national EV roadmaps, corporate net-zero targets, and potential Article 6 cooperation pathways under the Paris Agreement, offering a scalable model for cities to accelerate electrification while maintaining market integrity.
Transport accounts for approximately 15 per cent of global greenhouse-gas emissions. By bridging finance gaps and incentivising widespread EV infrastructure, EVolve empowers cities and businesses to transition toward cleaner, low-carbon mobility.
EVolve represents a scalable blueprint for accelerating EV infrastructure across Asia’s emerging markets, reinforcing Saxon Renewables’ mission to power credible, high-impact climate solutions.
About Saxon Renewables
Saxon Renewables is Asia’s trusted climate-solutions partner, helping organisations decarbonise through renewable energy and verified carbon projects. Headquartered in Singapore with offices across three countries, Saxon delivers end-to-end solutions including Climate Transition Planning, Renewable Energy Procurement (PPA / VPPA), and Environmental Commodities such as Renewable Energy Certificates (RECs) and Verified Carbon Credits.
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