Abatable, a leading organization in carbon market solutions, has announced a strategic partnership with the ASEAN Alliance on Carbon Markets (AACM) to promote and support the growth of carbon markets in Southeast Asia. The collaboration aims to advance the development of voluntary carbon markets across the ASEAN region and facilitate the implementation of compliance markets.
The partnership was unveiled during an executive roundtable held at the Embassy of the Republic of Indonesia in Singapore. The event brought together key stakeholders to discuss the strategic development of carbon markets in Southeast Asia, exploring opportunities for sustainable growth and impact within the region.
One of the primary objectives of the partnership is to support the AACM’s policy advocacy work, with a specific focus on an upcoming report on the voluntary carbon market in Southeast Asia. Abatable’s policy specialists will lead the development of this report, which will be launched at Climate Week New York City later this year, providing valuable insights into carbon market trends and opportunities in the region.
Maria Eugenia Filmanovic, Co-Founder of Abatable, expressed excitement about the partnership and emphasized the effectiveness of carbon markets in driving positive solutions for climate, nature, and people. She highlighted the significance of Abatable’s role as the first private sector-led body advocating for cross-border efforts in carbon market development within Southeast Asia.
The Permanent Chair of the AACM, Dharsono Hartono, emphasized the strategic importance of this partnership. He highlighted the AACM’s commitment to addressing pressing issues in both voluntary and compliance markets in the region through collaborations with leading organizations.
The Deputy International Affairs of the AACM, Steven Marcelino, emphasized the inclusive nature of the alliance and the potential impact of the partnership with Abatable. He discussed the upcoming reports that will provide market insights to policymakers and stakeholders, projecting potential investment and job creation opportunities.
The partnership between Abatable and AACM reflects the strong commitment of both organizations to foster a robust ecosystem of players across the carbon market value chain. Together, they aim to support governments in Southeast Asia by providing capacity building and technical assistance to ensure the successful implementation of carbon market initiatives.
For more information about Abatable and its carbon market solutions, visit their website at abatable.com.
About Abatable:
Abatable is dedicated to enabling organizations to create a sustainable future for climate, nature, and people. Through their technology-enabled solutions, Abatable empowers organizations to navigate carbon markets confidently, find the right partners, understand market risks, and amplify their impact on the planet.
About AACM:
The ASEAN Alliance on Carbon Markets (AACM) is a private sector-led organization that promotes cross-border efforts in carbon market development. With a focus on capacity building and technical assistance, AACM acts as a focal point for international partnerships, fostering a regional ecosystem to support the growth of carbon markets in Southeast Asia.
Abatable’s partnership with the ASEAN Alliance on Carbon Markets (AACM) comes at a time when the demand for carbon markets in Southeast Asia is growing. The region has become increasingly aware of the need to address climate change and reduce greenhouse gas emissions. This collaboration aims to advance the development of both voluntary and compliance carbon markets across the ASEAN region.
One of the key objectives of the partnership is to support the AACM’s policy advocacy work. Abatable’s policy specialists will lead the development of an upcoming report on the voluntary carbon market in Southeast Asia. This report, which will be launched at Climate Week New York City, will provide valuable insights into the current trends and opportunities within the carbon market in the region.
The partnership between Abatable and AACM has several advantages. By bringing together key stakeholders, they can collectively work towards the development of a robust carbon market ecosystem in Southeast Asia. The partnership also highlights the commitment of both organizations to address pressing issues related to carbon markets, both voluntary and compliance, and collaborate with other leading organizations.
However, there are also challenges associated with the growth of carbon markets in Southeast Asia. One of the main challenges is the need for strong regulatory frameworks and standards to ensure the integrity of carbon credits and to prevent fraud. Additionally, there might be challenges in gaining wider participation from companies across different sectors and industries.
Nevertheless, the partnership between Abatable and AACM demonstrates their dedication to support governments in Southeast Asia. They aim to provide capacity building and technical assistance to ensure the successful implementation of carbon market initiatives, which can have a positive impact on climate change mitigation and sustainable development within the region.
In the current market trends, we are seeing an increasing demand for carbon credits and offsets as companies and organizations strive to reduce their carbon footprints and meet sustainability targets. This demand is expected to rise further as governments and businesses adopt more ambitious climate goals. Southeast Asia, with its rapidly growing economies and increasing awareness of climate change impacts, presents a significant market opportunity for carbon credits.
Forecasting the future of carbon markets, it is expected that there will be continued growth in both voluntary and compliance markets in Southeast Asia. As more countries adopt carbon pricing mechanisms and regulations, the demand for carbon credits will increase. Moreover, the implementation of sustainable development goals and the growing interest in environmental, social, and governance (ESG) investing will also drive the demand for carbon credits and create new investment opportunities.
However, there are also key challenges and controversies associated with carbon markets. One of the main challenges is ensuring the integrity and transparency of carbon credits. There have been instances of carbon credit fraud, where companies have claimed false emission reductions or sold credits that do not represent real emission reductions. This poses a risk to the credibility of carbon markets and highlights the need for strong regulatory oversight and standardization.
Furthermore, there is an ongoing debate about the effectiveness of carbon markets in achieving long-term emissions reductions. Critics argue that carbon markets can lead to a “compliance mindset,” where companies focus on purchasing offsets rather than implementing sustainable practices to reduce emissions at the source. It is important to strike a balance between the use of offsets and the promotion of real emissions reductions through renewable energy investments, energy efficiency measures, and other sustainable practices.
In conclusion, the partnership between Abatable and AACM is poised to drive carbon market growth in Southeast Asia. The collaboration will support the development of both voluntary and compliance carbon markets, provide valuable market insights, and assist governments in implementing carbon market initiatives. However, as the carbon market expands in the region, it is essential to address challenges related to regulation, standardization, and ensuring real emissions reductions.