Bandar Seri Begawan, 15–16 September 2025: Peat ecosystems and mangrove forests, known for their ability to sequester and store more carbon than terrestrial forests, have increasingly attracted global attention in the context of climate change mitigation and adaptation. With around 70% of its land covered by forests, Brunei Darussalam has a unique opportunity to develop carbon markets and trade credits internationally, strengthening its efforts to preserve pristine ecosystems through market-based approaches.

To explore this potential and address related challenges, ERIA and the Forestry Department of the Ministry of Primary Resources and Tourism (MPRT) convened an international workshop under the project ’Exploring Forest Carbon Market Opportunities in Brunei Darussalam: The Case of Belait Peat Swamp Forest.’

The workshop brought together more than 30 international experts, along with key national stakeholders from Brunei’s Forestry Department, Climate Change Office, Ministry of Finance and Economy, and the Central Bank. Discussions centred on the feasibility of forest carbon market development and the necessary policy enablers.

In her opening remarks, Yang Mulia Puan Hajah Tutiaty binti Haji Abdul Wahab, Permanent Secretary of MPRT, stressed: ’Exploring the forest carbon market is not about jumping into something because it is trending, but about building a strong foundation based on data, policy alignment, institutional readiness, and above all, integrity to ensure sustainable development.’

ERIA’s Special Representative for Brunei Affairs, Okuichi Hiroshi, added: ’By placing an economic value on the carbon sequestered by our forests, we can unlock new avenues for sustainable financing, incentivise conservation, and foster development that goes hand-in-hand with environmental stewardship.’

The technical sessions reviewed preliminary findings of the ERIA–Brunei joint study on Forest Carbon Inventory Gap and Verification Analysis and a Carbon Pricing Strategy. Sessions were co-chaired by Yang Mulia Dayang Noralinda binti Haji Ibrahim, Deputy Permanent Secretary of the Forestry Department, and Dr Venkatachalam Anbumozhi, Senior Research Fellow for Innovation at ERIA.

Discussions began with peat soil data and forest inventory assessments, identifying key verification gaps. Participants then examined the Belait Peat Swamp Forest’s eligibility against global standards, estimated its carbon sequestration potential, and considered policy issues such as additionality and permanence. The final session addressed financial viability and possible pathways for phased carbon market development.

On the second day, participants visited the Belait Peat Swamp Forest pilot project area to observe the ecosystems under study and reflect on the opportunities and responsibilities associated with potential carbon credit trading. The programme concluded with a joint session where ERIA and Forestry Department officials reviewed the draft final report of the study and discussed next steps for advancing Brunei’s journey toward a viable carbon market.

The study’s findings and guidebook are expected to contribute to building a transparent and robust framework for forest carbon market development in Brunei, supporting the nation’s vision for environmental sustainability and economic resilience.