The Future of Carbon Markets in Northeast Asia and Pathways for Cooperation

Northeast Asian carbon markets are experiencing major early-2018 developments. China launched the world’s largest national emissions trading system (ETS) in December 2017 covering the power sector, and subsequently announced the transfer of China’s climate change policymaking from the National Development and Reform Commission (NDRC) to the new Ministry of Ecology and Environment. Japan’s Ministry of Environment announced that it will start developing a comprehensive policy proposal on carbon pricing, which includes the consideration of a nationwide ETS. Korea’s ETS entered into its second phase and is maturing to become a core pillar of its climate policy.

With carbon markets in Northeast Asia broadening and deepening in scope, the Asia Society Policy Institute (ASPI) will bring together architects and thought leaders of carbon markets in Asia, as well as international carbon market experts and practitioners. In the first workshop session, from 9:00 a.m. to 12:00 p.m., we will facilitate strategic decision-making in the design choices of the ETS through an interactive carbon trading simulation exercise using the EDF's CarbonSim tool. 

In the second session of the workshop, which includes lunch and runs from 1:00 p.m. to 4:00 p.m., we will host a roundtable discussion to provide expert analysis on current carbon market developments in Northeast Asia and foster discussion on what actions should be taken to promote multilateral carbon market linkages. 

This is an invitation-only event and will take place alongside the World Bank/IMF Spring Meetings. For additional information about this event, please contact mshin@asiasociety.org. 

This workshop is presented in partnership with the Environmental Defense Fund, Carbon Pricing Leadership Coalition, and Duke University Nicholas Institute for Environmental Policy Solutions, and is made possible by the generous support of the Japan Foundation Center for Global Partnership.