Project Overview

Voluntary carbon markets (VCM) play a crucial role in financing greenhouse gas (GHG) reduction and removal initiatives. ASEAN member states (AMS) are at varying stages of implementing carbon credit schemes, resulting in fragmentation and inefficiencies. A harmonised VCM framework is essential for: encouraging investment in high-quality carbon offset projects, ensuring market integrity and reducing risks like double counting and greenwashing, and enhancing ASEAN's role in global carbon trading and climate finance. However, despite the evident benefits, challenges such as differences in national climate priorities, economic structures, and regulatory frameworks hinder market integration.

In collaboration with ASEAN Capital Market Forum (ACMF), the project therefore aims to address these challenges by developing regionally tailored guidance for establishing VCM for ASEAN.