Kuala Lumpur, 8 April 2025: ERIA shared key updates on the Carbon Market Ecosystem Roadmap project – an initiative jointly led with the Securities Commission Malaysia (SC Malaysia), which is serving as the lead coordinator of the ASEAN Capital Markets Forum (ACMF) during Malaysia’s ASEAN Chairmanship. The project aims to build on and deepen the insights provided by key existing studies on the voluntary carbon market – such as those published by the ACMF and the International Organization of Securities Commissions (IOSCO) – to better align with decarbonisation targets and aspirations for carbon pricing and trading in ASEAN. The project's final report is scheduled for release in October 2025.

The update was presented at a closed-door regulatory dialogue of ASEAN Investment Conference held in Kuala Lumpur on 8 April 2025. The ERIA team comprised Dr Intan Murnira Ramli (Senior Policy Fellow), Dr Joko Purwanto (Energy Economist), Sho Hayashi (Policy Fellow on Energy Transition and Finance), Sayo Hosoi (Assistant Program Manager on Energy), and Ayu Pratiwi Muyasyaroh (Research Associate Energy).

During this dialogue, ERIA led discussions with representatives from regulatory authorities and institutions on capital market in ASEAN. The goal was to share information about the project and gather stakeholders’ inputs and views on creating an interoperable, seamless, and robust voluntary carbon market in the region. The representatives contributed valuable insights, emphasising the need for practical and adaptable VCM guidelines tailored to businesses and industries, while also ensuring a strong and credible monitoring, reporting, and verification mechanism.