Pricing Carbon, Mobilizing Capital: A dialogue towards a CJK–Southeast Asia carbon markets

About this event

Carbon markets are gaining momentum as policy tools to accelerate decarbonization and mobilize investment for the energy transition. Yet across Asia and the Pacific, carbon pricing mechanisms remain at different stages of development, reflecting diverse regulatory approaches, market structures, and levels of private-sector engagement. While China, Japan, and the Republic of Korea have established emissions trading systems and advanced carbon market frameworks, Southeast Asian economies are making important progress in developing their own approaches. Indonesia launched its power-sector emissions trading system in 2023, Viet Nam has recently launched its pilot carbon market, Thailand is expanding its voluntary carbon market, and the Philippines is exploring options for carbon pricing and market development. As the region accounts for more than half of global greenhouse gas emissions, strengthening carbon markets is critical to supporting the transition toward low-carbon economies. Well-designed carbon pricing mechanisms can create incentives for emissions reductions, redirect capital toward clean energy investments, and generate resources for climate mitigation and adaptation. However, challenges such as low carbon prices, limited sectoral coverage, fragmented measurement, reporting and verification (MRV) systems, and insufficient market liquidity continue to constrain their effectiveness. Organized by the United Nations Economic and Social Commission for Asia and the Pacific (ESCAP), through its Energy Transition for Green Growth and Prosperity initiative, in cooperation with the Global Green Growth Institute (GGGI), this dialogue will explore the demand-side and private-sector conditions needed to strengthen carbon markets across Asia and the Pacific. Building on insights from six country workshops and consultations in China, Japan, the Republic of Korea, Indonesia, Thailand, and the Philippines, the event will bring together policymakers, regulators, financial institutions, private-sector representatives, and development partners to exchange perspectives on carbon market development. By connecting policy ambition with private-sector participation, the event aims to identify practical pathways for advancing carbon pricing and realizing the potential of carbon markets to support Asia and the Pacific’s energy transition and sustainable development. Join the conversation at Bangkok Climate Action Week to explore how stronger carbon markets can unlock investment and accelerate climate action across Asia and the Pacific.