This book investigates how countries in ASEAN and East Asia are designing, implementing, and evolving their carbon markets to meet growing climate commitments, while also examining opportunities for regional market linkage and policy harmonization.
The book is split into three sections: developments in ASEAN countries, comparative experiences, and regional integration. Contributors provide country analyses of carbon pricing policies, from carbon taxes to emerging emissions trading frameworks, and consider factors that impede policy outcomes. They also consider a range of international examples, including Australia’s safeguard mechanism, Japan’s carbon pricing initiative, and the 2030 NDC framework. Drawing upon lessons from other countries and regions, the book assesses ASEAN’s readiness for market interoperability and regional linkages.
Of interest to scholars of climate finance, energy, and climate economics, this book will also be useful for policymakers and stakeholders aiming to strengthen climate governance and advance coordinated, effective carbon pricing strategies in Asia and the Pacific.
This book investigates how countries in ASEAN and East Asia are designing, implementing, and evolving their carbon markets to meet growing climate commitments, while also examining opportunities for regional market linkage and policy harmonization.
Introduction
Han Phoumin, Farhad Taghizadeh-Hesary, Youngho Chang, and Phouphet
Kyophilavong
Section 1: National Approaches to Carbon Pricing and Market Development
1. Exploring the Viability and Policy Implications of Introducing Carbon
Markets in Vietnam
Thai-Ha Le
2. Carbon Taxation in Singapore: Implementation, Impacts, and Implications
Youngho Chang
3. Carbon Pricing and Market Readiness in Thailand: A Policy Review of
Taxation, Emissions Trading, and Voluntary Markets
Nophea Sasaki and Han Phoumin
4. Carbon Pricing in Indonesia: A Suboptimal Adoption Approach
Alin Halimatussadiah, Dandy Rizky Wibowo, Akhmad Rizal Shidiq
5. The Carbon Market in Laos: The Opportunities and Challenges
Phouphet Kyophilavong, Inpaeng Sayvaya, Thongsa Tounmanysone, Phongsili
Soukchalern
6. Public Acceptance and Willingness to Pay for Carbon Pricing in Malaysia
Fathin Faizah Said
Section 2: Comparative Experiences and Analytical Frameworks
7. Evolution of Carbon Markets in Australia Policy Lessons for the ASEAN
Based on a Review of Design Features and Performance
Rabindra Nepal, Muhammad Tayyab Ayaz, Ashish Agalgaonkar, and Han Phoumin
8. Effective Carbon Pricing and Emissions Reduction in Japan: Lessons for
East Asian Regional Integration
Satoshi Honma
9. CGE Analysis of the Joint Carbon Market in ASEAN and East Asia:
Considering Policy Challenges in Market Development
Shinya Kato, Yanmin He, Wendan Zhang, Soocheol Lee, Toru Morotomi, Tsutomu
Yoshioka and Xu Han
10. Emission Trading System and International Capital Flows in ASEAN and East
Asia: Evidence from Selected Countries
Solomon Nborkan Nakouwo, Yajie Chen, Dayong Zhang
Section 3: Regional Integration and Market Linkages
11. How to Connect ASEAN Carbon Markets Learnings from the European Union
and China
Lutz Philip Hecker, Yanfei Li, Xueyan Yang, and Yuxuan Yu
12. Linking Carbon Markets in the ASEAN Countries: Potential Impacts,
Challenges, and Opportunities for Regional Cooperation
Falendra Kumar
13. Malaysias Carbon Market and ASEAN: Opportunities and Challenges
Nora Yusma Mohamed Yusoff, Ahmad Khusyairi Che Rusli, Asiyyah Sakinah
Dzulkifli, and Basil Sharp
Index
Han Phoumin is a Senior Energy Economist at the Economic Research Institute for ASEAN and East Asia, Indonesia. He holds a PhD in Economic Development and Policy from Kobe University, Japan.
Farhad Taghizadeh-Hesary is Professor at Tokai University, Japan; Vice President and Co-founder of the International Society for Energy Transition Studies; and Chief Economist of Climate Finance Asia in Tokyo, Japan. He holds a PhD in Economics from Keio University, Japan.
Youngho Chang is an Associate Professor and Head of the Minor in Applied Economics at Singapore University of Social Sciences, Singapore. He holds a PhD in Economics (Environmental and Resource Economics) from the University of Hawaii at Manoa, USA.
Phouphet Kyophilavong is a Professor at the National University of Laos, Lao PDR. He holds a Ph.D. in Economics from Kobe University, Japan.
