In the carbon market, pricing mechanisms such as emissions trading systems and carbon taxes are essential tools for incentivising low-carbon behaviour. However, Asia faces the challenge of expanding its carbon markets while balancing economic growth and industrial competitiveness, given the region's reliance on fossil fuels. Although some advanced initiatives are emerging, regional coordination remains limited.

To address this, we aim to support the implementation of carbon markets by providing an overview of their current development in the region and promoting policy coordination and cross-border trading. We will also focus on creating a regional framework for Monitoring, Reporting, and Verification (MRV) and on building capacity to ensure the reliability and consistency of carbon market operations