The completion of negotiations on Article 6 of the Paris Agreement on international carbon trading opens up opportunities for countries to reduce the costs of meeting decarbonisation commitments by using international credits and linking carbon markets. ASEAN is particularly well-placed for this with its combination of needing to meet rapid growth in energy demand while not increasing emissions and its large potential for nature-based and other offsets. ECA has been selected to assess options for increasing cooperation between ASEAN members in carbon pricing. Our team is initially focusing on identifying mutual confidence-building and cooperation activities which can form a basis for increasing linking in future.
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