China operates the world’s largest carbon market while Southeast Asia has nascent systems. Interconnectivity among its diverse markets would be crucial in achieving global net-zero goals, finds a report by the World Economic Forum.
There are multiple carbon projects already up and running despite a lack of rules governing their trade. New rules set to be introduced next month will only apply to energy projects, not forest-based carbon projects, observers say.
The Temasek-owned investor's first sustainability report shows it has cut 3 million tonnes of carbon emissions to date, but warns of crediting delays and longer payback times for technology-based carbon removal projects amid uncertainty.
Once an early mover on ISSB adoption, the city-state has pushed back disclosures for smaller listed firms by up to five years. Regulators cite economic uncertainty, but market watchers warn the move could spur easing of rules regionally.