The Center’s expert took part in the Asia Climate Summit

The Center’s expert Anton Tsvetov took part in the annual Asia Climate Summit in Tokyo (Japan), organized by the International Emissions Trading Association (IETA) and the International Energy Agency (IEA). The event brought together regulators, the private sector, verifiers, traders, and other participants of the international carbon market.

Discussions took place with the innovations in regional carbon markets on the background. These include the unveiling of India’s plans to launch a regulated carbon asset trading system, the re-launch of a national offset system in China, the launch of a cap-and-trade system in Indonesia’s energy sector, and the development of quality criteria for carbon units to count towards a carbon tax in Singapore.

It was noted that carbon markets are fragmented, because differences in regulation divide the world into jurisdictions with significantly different rules for the issuance and trading of carbon assets. Special attention was paid to the prospects of launching a centralized mechanism of Article 6.4 of the Paris Agreement, which could potentially become the gold standard for the system of issuance in carbon markets. Meanwhile, the voluntary market is experiencing an active self-regulation moment, when, in the absence of uniform international rules, the private sector is developing standards for the quality of carbon units and approaches to the formation of demand for assets.