This policy brief, published by the Singapore Green Finance Centre (a joint initiative of Singapore Management University (SMU) and Imperial College London), offers key insights into the evolving landscape of global carbon markets for ASEAN, drawing from a high-level roundtable held in Singapore on 4 November 2024, along with additional expert analysis. Authored by CCFI Senior Executive Dr Raúl C. Rosales, it also reflects the latest updates from the COP29 agreement on carbon trading under Article 6 of the Paris Agreement.
As part of a broader initiative launched at London’s Guildhall in October 2023, this roundtable focused on strengthening the integrity and infrastructure of ASEAN’s carbon markets. Discussions highlighted the critical roles of exchanges, rating agencies, and banks in scaling these markets by ensuring transparency, liquidity, and trust.
Drawing on experiences from Singapore, Malaysia, the UK, and the EU, participants explored the potential linkage of the UK and EU Emissions Trading Systems (ETS) and examined the implications of the Carbon Border Adjustment Mechanism (CBAM) on ASEAN economies.
Hosted by the Singapore Exchange and organised by the Singapore Green Finance Centre, the event underscored the power of collaboration in shaping a more sustainable and integrated carbon market for ASEAN. The goal: to establish a clear, actionable roadmap for the next five years—guiding governments, policymakers, industries, and financial institutions in fortifying the region’s carbon markets and supporting infrastructure.
This initiative will carry forward into 2025 with a series of workshops and two additional roundtables in Singapore, bringing together exchanges, banks, and key stakeholders. These engagements will drive impactful research and real-world case studies, laying the foundation for the ASEAN Common Carbon Framework.