Webinar: Carbon Markets: An ASEAN Outlook
Date and Time: Jul 12, 2022| 03:30 PM (Singapore Time)
Register on Zoom [new window]
Carbon markets are relatively new to the ASEAN region. With its large carbon sinks and immense potential for renewable energy, ASEAN can generate quality carbon credits to help overcome financial limitations and take greater advantage of its potential to reduce emissions through projects such as ecosystem preservation and renewable energy deployment. Almost all ASEAN countries have participated in existing carbon crediting mechanisms such as the Clean Development Mechanism. Some, like Thailand and Vietnam, have plans to establish domestic emissions trading markets. Singapore has established Climate Impact X, a global voluntary exchange to facilitate the exchange of carbon credits.
In 2021, Parties to the Paris Agreement reached a landmark deal on Article 6, which addresses international cooperation on carbon markets. It will allow countries to use a variety of carbon crediting mechanisms to meet the targets in their Nationally Determined Contributions (NDCs) under the Paris Agreement. All ASEAN countries have indicated an intention to utilise market mechanisms to help them achieve NDC targets. An international carbon market will boost demand and could save billions while ramping up climate ambition.
This is the second session in a series that seeks to answer key questions faced by the region at this turning point in the carbon market landscape. It will explore insights from regional researchers on the progress and challenges of carbon markets and nature-based solutions in ASEAN.
About the Speakers
Dr. Raúl C. Rosales is a Senior Executive Fellow in the Centre for Climate Finance & Investment at Imperial College Business School in London. He serves on Imperial’s Singapore Green Finance Centre executive committee and leads the hydrogen hub (“h2 enable & accelerator”) at Imperial College.
Ms. Melissa Low is a Research Fellow at the National University of Singapore’s (NUS) Centre for Nature-based Climate Solutions.