Project Overview

This project aims to advance the development of carbon markets in ASEAN and East Asia in support of the region's net-zero and carbon neutrality goals. Building on the principles of carbon pricing, the study examines institutional readiness, regulatory frameworks, and policy incentives needed to establish robust carbon markets. It documents country-level progress – such as Singapore's carbon tax and trading platform, Malaysia's Bursa Carbon Exchange, Indonesia's carbon market launch, and Thailand's carbon credit platform – while identifying barriers in countries at earlier stages.

By drawing lessons from the EU Emissions Trading System and adapting them to regional contexts, the project explores pathways for ASEAN to transition from voluntary to integrated or mandatory carbon markets. Using both qualitative and quantitative methods, it will generate empirical evidence and policy recommendations. Ultimately, the study seeks to inform strategies that strengthen institutional capacity, enhance regional co-operation, and enable ASEAN to build a credible, competitive, and sustainable carbon market.