Kuala Lumpur, 6 November 2025: The ASEAN Capital Markets Forum (ACMF) marked a major milestone in regional financial co-operation with the launch of its Action Plan 2026–2030 (AP 2026) during the ACMF International Conference 2025, hosted by the Securities Commission Malaysia and chaired by Dato’ Mohammad Faiz Azmi, ACMF Chair for 2025.

Jointly developed by ERIA and the ACMF, AP 2026 sets out a new 5-year roadmap to advance regional capital market development, building on the achievements of the 2021–2025 plan. The framework identifies 11 Key Priorities and 24 Initiatives under five strategic thrusts:

1. Building a Sustainable ACMF
2. Building a Sustainable and Resilient ASEAN
3. Promoting Inclusivity and Financial Empowerment
4. Strengthening Regional Integration and Global Positioning
5. Driving Digitalisation

In conjunction with AP 2026, ACMF and ERIA also launched two key deliverables at the ACMF Chairs Meeting on 5 November 2025 in Kuala Lumpur: the ACMF Voluntary Carbon Market (VCM) Development Plan and the VCM Guidance.

The VCM Development Plan outlines the global and regional context for carbon market development, underscoring the role of voluntary carbon markets in supporting decarbonisation goals and mobilising sustainable finance. It provides an overview of market readiness across ASEAN Member States and proposes a phased approach to promote regional alignment and integration.

Structured around four key dimensions – regulatory frameworks, primary market issuance, secondary market trading, and credit use and disclosure – the report offers practical guidance to policymakers and market participants to enhance transparency, integrity, and interoperability in ASEAN’s VCM ecosystem.

The Development Plan also emphasises the importance of data transparency, capacity building, regional co-operation, and strong governance as cornerstones for developing a high-integrity and investment-ready carbon market. It lays the groundwork for establishing a regional coordination platform amongst ASEAN regulators to further advance these goals.

A key highlight of the meeting was the signing of a Memorandum of Understanding (MoU) between ACMF and ERIA, formalising collaboration in research, policy development, and capacity building aligned with the strategic thrusts of AP 2026.

At the conference, ERIA also launched several major publications and reaffirmed its commitment to supporting ACMF’s long-term vision for sustainable finance, digitalisation, and regional capital market integration. ERIA will continue to work closely with ACMF and its partners to implement the Action Plan’s recommendations and strengthen ASEAN’s financial resilience and sustainability.

ACMF Action Plan 2026–2030

ACMF Voluntary Carbon Market Development Plan