There is a growing momentum for using carbon markets as a part of the broader climate policy architecture to accomplish national target as articulated under the nationally determined contributions (NDCs) and raising ambition over time. Carbon markets can mobilize much needed financial resources required to incentivize investments in low carbon technologies and foster energy transition and decarbonization.

Asia and the Pacific has vast experience, expertise and expectations for mobilizing carbon finance to pursue a low carbon growth trajectory. The region has an opportunity to build on its wealth of experience and expertise in operationalizing international carbon markets under the Kyoto Protocol and the Joint Crediting Mechanism to catalyse clean energy transition through carbon markets under the Paris Agreement.

This calls for countries to develop holistic strategies aligned with their national circumstances and priorities on how carbon markets can contribute to the broader development agenda. Alongside, this needs to go hand in hand with broader discussions among both public and private sector stakeholders on how carbon finance can be catalysed as a source of finance to accelerate decarbonization efforts.

This deep-dive workshop being organized by the Asian Development Bank will have two sections of 1.5 hours each.

National Strategies for International Carbon Markets. The first session will lay the landscape of evolving carbon market opportunities across the compliance and voluntary market. It will then share insights on tangible steps countries can take to develop holistic national strategies to engage with the broad landscape of international carbon markets under the Paris Agreement.

Mobilizing Carbon Finance to Accelerate Decarbonization. The second session will delve into how carbon finance can be catalysed as a source of finance and be incorporated into project design and pipeline development to accelerate decarbonization efforts. It will build on ADB’s longstanding engagement with mobilizing carbon finance and offer insights on how carbon finance opportunities can be maximized.