Organizer: ISEAS - Yusof Ishak Institute
Description:
Carbon markets are relatively new to the ASEAN region. With vast peatlands and tropical forests that hold potential as carbon sinks and with its immense potential for renewable energy, ASEAN countries can generate quality carbon credits to help overcome financial limitations and take greater advantage of their potential to reduce emissions through projects such as ecosystem preservation and renewable energy deployment in rural communities. Almost all Southeast Asian countries have participated in existing carbon crediting mechanisms such as the Clean Development Mechanism (CDM). Some countries, like Thailand and Vietnam, have plans to establish domestic emissions trading markets. Singapore has established a global voluntary exchange called Climate Impact X to facilitate the exchange of quality carbon credits.
In 2021, Parties to the Paris Agreement reached a landmark deal on Article 6, which addresses international cooperation on carbon markets. Its rules and implementation will allow countries to use a variety of carbon crediting mechanisms to meet the emissions reduction targets set out in their Nationally Determined Contributions (NDCs) under the Paris Agreement. All ASEAN countries have indicated an intention to utilise market mechanisms to help them achieve NDC targets. The resulting international carbon market will boost demand for carbon credits and could save billions of dollars while ramping up climate ambition.
This is the first session in a webinar series that seeks to answer key questions faced by the region at this turning point in the carbon market landscape. It will seek to provide insights from early adopters of carbon market initiatives around the world and uncover lessons for ASEAN.
Speakers:
Stefano De Clara is the Head of Secretariat at the International Carbon Action Partnership (ICAP). ICAP is a forum, counting 33 members and 7 observers, for governments and public authorities that have implemented or are planning to implement emissions trading systems (ETS). Stefano leads ICAP’s work across the three pillars of technical dialogue, ETS knowledge sharing and capacity building. Before his current role, Stefano was the Director for International Policy at the International Emissions Trading Association (IETA). Prior to joining IETA he focused on emissions trading in the Academia and for consulting companies. He holds a M.Sc. in Sustainable Development from the Utrecht University and a B.Sc. in Environmental Science from the University of Trieste.
Daniel Nachtigall is an Economist at the Environment Directorate of the Organisation for Economic Co-operation and Development (OECD). He recently joint the International Programme for Action on Climate (IPAC), which supports countries to reach net-zero through monitoring, policy evaluation and feedback. Before joining the IPAC, he was an Economist at the Environment, Transitions, and Resilience Division of the Environment Directorate and Consultant in the Green Growth team of the Economics Department at the OECD. As a climate change expert specialising in carbon pricing and the energy sector, Daniel has more than ten years of experience in international policy, policy design and implementation, and research. He holds a PhD in Environmental Economics, and an M.Sc. and B.Sc. in Economics.
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