IETA Carbon Market Business Briefs capture growth in Asia

TOKYO, 25 October – The continued spread of carbon markets across Asia is reflected in IETA’s collection of carbon market business briefs.

As Asia Climate Summit begins in Tokyo on Wednesday, IETA is releasing the first tranche of 2023 updates to its Carbon Market Business Briefs, focusing on the Asia Pacific, plus briefs on South Africa and CORSIA. This batch also includes a new brief focused on Indonesia.

The documents offer a high-level overview of key features in each market as well as a summary of major developments and price movements over the preceding 12 months, written by IETA staff and partners.

“The push to achieve net zero and deliver on pledges under the Paris Agreement continue to drive growth in carbon markets around the world,” says IETA CEO Dirk Forrister. “Market mechanisms can help deliver net zero ambitions faster and at a lower cost than other policy options, and also foster cooperation and collaboration – which drive even greater emissions cuts.”

He adds: “Asia is responsible for over half of the world’s GHG emissions, so it is vital that reductions are achieved across the region. It is encouraging that many are embracing a market-based pathway to cutting emissions.”

The updated briefs are available on the IETA website. The second tranche – focusing on markets in the Americas and Europe – will be released later this year.