Asia’s lead in global carbon markets is one to follow

THE United Nations climate talks in December did not deliver the progress on carbon markets that many hoped or expected. Negotiators failed to agree on a number of key texts, with countries clashing over how rigorous to make the rules.

But, many countries in Asia are now experimenting with their own alternatives, and showing leadership where it was missing in Dubai. With the texts facing another year of negotiation, Asian nations show no sign of holding back by launching their own carbon credit schemes and striking country-to-country carbon credit deals, offering a plethora of opportunities for countries to make good on their climate ambitions.

From its low-lying archipelagos and biodiverse tropical forests to its booming manufacturing and agriculture sectors, Asia is home to some of the world’s most vulnerable ecosystems – and, in contrast, some of the world’s biggest emitters.