Harmonised framework within Asean will attract investors: global carbon trading body
Registry systems that are unified across the region with carbon market data that can be tracked and updated in real time will help enhance transparency and ensure that there is no double counting of carbon credits
[SINGAPORE] A harmonised carbon trading framework across all South-east Asian markets will help boost private sector investments, said Dirk Forrister, chief executive officer of the International Emissions Trading Association (Ieta), a non-profit organisation representing businesses committed to effective carbon markets.
While the ideal scenario will be for Asean to develop an integrated carbon market, having harmonised policies on carbon integrity standards, verification processes and project requirements will help reduce the friction that buyers and sellers of carbon credits typically face in the region.
“It’s inefficient to have a different rule book every place you go. It just adds costs and delay,” said Forrister in an interview with The Business Times.
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