An Asia Society Policy Institute Report

The expansion of carbon markets in China, Japan, and the Republic of Korea have laid the foundation for discussions on potential carbon market cooperation within Northeast Asia, and the role of the private sector is vital for achieving success in this space.

In the new Asia Society Policy Institute and KPMG Samjong report, Business Sector Action to Drive Carbon Market Cooperation in Northeast Asia, the authors present how carbon market linkage within China, Japan, and Korea could take place in unison with industry preferences. The report puts forward northeast Asian carbon market characteristics and discusses similarities and differences between systems; addresses the potential impacts of carbon market linkage on the private sector; and suggests roles for business leaders to achieve effective market cooperation and capture new business opportunities that can unlock the potential of private sector investment.

This report is part of ASPI’s initiative Toward a Northeast Asia Carbon Market, which seeks to build the foundation from which impactful market connections extend in the future. ASPI is grateful for support of this initiative from the MacArthur Foundation and the Japan Foundation Center for Global Partnership.

Executive Summary

English: Download print-friendly version (PDF, 48 KB)

Korean: Download print-friendly version (PDF, 88 KB)

Chinese: Download print-friendly version (PDF, 386 KB)

Full Report

English: Download print-friendly version (PDF, 797 KB)

Korean: Download print-friendly version (PDF, 785 KB)

Chinese: Download print-friendly version (PDF, 921 KB)

About the Editors

Jackson Ewing is Senior Advisor for Sustainability at the Asia Society Policy Institute (ASPI). From 2015 to 2017, he served as ASPI’s Director for Asian Sustainability in New York, leading projects on environmental cooperation, responsible resource development, and international climate change policy. He is currently a Senior Fellow at the Nicholas Institute for Environmental Policy Solutions at Duke University, and has worked throughout Asia with actors in government, the private sector, civil society, and international organizations. He holds a doctorate in environmental security and a master’s degree in international relations from Bond University, a bachelor’s degree in political science from the College of Charleston, and an ongoing fellowship at RSIS.

Minyoung “Minnie” Shin is Senior Program Officer for Sustainability at the Asia Society Policy Institute (ASPI) in New York, where she supports ASPI’s climate change and environmental cooperation projects. Before joining ASPI, Minnie worked in the for-profit, public, and nonprofit sectors focusing on issues including environmental markets, climate policy, sustainable operations, and commercial and industrial energy efficiency. She holds a master of public affairs in environmental science and policy from Columbia University and a master of international studies from Seoul National University

About the Authors

Sungwoo Kim is an adjunct professor at Korea University. Before joining Korea University, he was the Regional Head of Climate Change and Sustainability at KPMG Asia Pacific, where he advised public and private decision makers on issues related to carbon pricing, climate finance, and corporate social responsibility. He is also a board member of the International Emissions Trading Association (IETA). He holds a PhD in business administration from Seoul School of Integrated Science of Technology and a master’s degree in civil and environmental engineering from Duke University.

Hyoung-chan Kim is Director of KPMG Samjong and has more than 12 years of professional experience in climate change and sustainability practices. He advises the Korean government in its development of a legislative framework on carbon market mechanisms, as well as private sector clients on low-carbon strategy and carbon market engagement. He holds a master’s degree in environmental studies from Seoul National University, and a bachelor of arts in economics and political science from Sogang University.

Ok-su Lee is Senior Manager of KPMG Samjong. During his 10 years at KPMG, he has advised on establishing effective policy response strategies for companies in various industries such as steel and petrochemicals. He advises the Green Climate Fund (GCF) Secretariat on Accredited Entity (AE) application review as an external technical expert. He holds a bachelor’s degree in business administration in accounting and taxation from Kyunghee University and is a Korean Institute of Certified Public Accountants (KICPA) holder.

Yoon-hye Choi is a consultant for KPMG Samjong. Her experience focuses on climate finance and international cooperation on climate change mitigation. She holds a master’s degree in international cooperation, with areas of concentration including East Asian studies, and international security and foreign policy from Yonsei University.