- Mikkel Larsen, former CEO of Climate Impact X (CIX), died last week at the age of 50. He was a leading figure in the global carbon markets, known for his work in shaping the voluntary carbon market with a focus on transparency, integrity, and high-quality standards for carbon trading projects.
- Larsen’s career spanned major roles at KPMG, Citigroup, and UBS before becoming Group Chief Sustainability Officer at DBS Bank in Singapore, where he integrated sustainability into financial policies, phased out coal lending, and established the bank as a leader in sustainable financial reporting.
- Beyond corporate roles, Larsen was involved in numerous initiatives, including the Taskforce on Nature-related Financial Disclosures (TNFD) and Singapore’s Emerging Stronger Taskforce, while serving on boards such as BirdLife International and Wildlife Works to advance conservation finance.
- Larsen’s environmentally-conscious lifestyle and dedication to climate advocacy inspired colleagues and the global sustainability community, leading to widespread tributes that highlight his passion, integrity, and lasting impact on the fight against climate change.
Mikkel Larsen, a prominent figure in the global carbon markets and sustainability sector, passed away unexpectedly last week at the age of 50. As the former Chief Executive Officer of Climate Impact X (CIX), a Singapore-based carbon exchange, Larsen played a pivotal role in shaping the voluntary carbon market with a focus on transparency and integrity.
Larsen’s career in finance began at KPMG in Denmark and later took him to Citigroup and UBS in London and Hong Kong. He eventually moved to Singapore, where he served as Group Chief Sustainability Officer at DBS Bank. During his tenure at DBS, Larsen integrated sustainability into the bank’s financial policies, championed nature-based solutions, and helped phase out coal lending. He was instrumental in making DBS the first publicly listed company in Singapore to incorporate sustainability into financial reporting.
His leadership extended beyond corporate sustainability initiatives. Larsen was an early pioneer of the Taskforce on Nature-related Financial Disclosures (TNFD) and played a key role in Singapore’s Emerging Stronger Taskforce during the COVID-19 pandemic. He also contributed to the Monetary Authority of Singapore’s green financing initiatives, positioning Singapore as a global hub for climate finance.
Larsen co-conceptualized the creation of CIX, which was established to facilitate high-integrity carbon trading. Under his leadership, CIX developed guidelines that aimed to ensure that carbon credit projects delivered tangible benefits to Indigenous peoples and local communities. His work earned him a reputation as an advocate for high-quality carbon markets.
Steve Howard, Head of Sustainability at Temasek, remarked on Larsen’s dedication: “Mikkel lived with an incredible intensity of feeling and passion that he turned into action. He was not content to let our imperfect world simply be, but was committed to playing his part in making it a better, fairer, kinder place.”
In addition to his corporate roles, Larsen was deeply committed to environmental advocacy. He served on the boards of BirdLife International and Wildlife Works, taking a rigorous approach to leveraging finance for conservation efforts. His work often addressed complex issues such as the Global North’s responsibility in funding forest conservation and the cost implications of carbon project verification.
Frederick Teo, CEO of GenZero, who worked closely with Larsen to establish CIX, described him as “a pioneering leader for carbon markets in Singapore. His thought leadership on this topic is well-known globally, especially for his commitment to ensuring high-quality, trust, and integrity.”
Beyond his professional achievements, Larsen led an environmentally-conscious lifestyle. He was a vegan, avoided air-conditioning, and preferred cold showers. An avid athlete, he participated in ultra-marathons, weightlifting, and martial arts, pushing his body to extremes while maintaining a relentless work ethic.
His passing has led to an outpouring of tributes from the global sustainability community. A statement from Climate Impact X described him as “a remarkable leader and colleague; a devoted son, husband, and father; and a cherished friend.” They have set up a digital memorial board to gather condolences and celebrate his life.
This story first appeared on Mongabay
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