Decarbonization News – Asia accounts for over half of global greenhouse gas emissions, yet the region’s carbon markets remain fragmented, limiting their effectiveness in driving decarbonization. To bridge this gap, the International Emissions Trading Association (IETA) has partnered with Hong Kong’s Financial Services and the Treasury Bureau (FSTB), the Securities and Futures Commission (SFC), and Hong Kong Exchanges and Clearing Limited (HKEX) to host the Asia Climate Summit (ACS) from July 7-9, 2026, at the Hong Kong Convention and Exhibition Centre.
The summit aims to foster high-level dialogue among government officials, finance leaders, aviation representatives, and industry stakeholders on accelerating climate action across the Asia-Pacific. With national Emissions Trading Schemes (ETS) expanding in major economies such as China, South Korea, Japan, India, and parts of Southeast Asia, the region is positioned as a key driver of global carbon market development.
Asia also holds significant potential in nature-based solutions, including rainforest protection in Indonesia, mangrove restoration in Pakistan, and sustainable rice cultivation practices in Vietnam.
These projects could generate economic opportunities for governments, businesses, local communities, and Indigenous peoples. However, challenges such as inconsistent standards, regulatory uncertainty, and low carbon prices continue to hinder progress and investment.
Key topics on the ACS agenda include
- the implementation of Article 6 of the Paris Agreement,
- the Carbon Offsetting and Reduction Scheme for International Aviation (CORSIA),
- advancements in carbon pricing,
- questions of market integrity, the integration of artificial intelligence and digital technologies, and
- the regional impacts of the EU’s Carbon Border Adjustment Mechanism (CBAM).
Discussions will emphasize how trade competitiveness, market harmonization, and strong pricing signals can align policy and stimulate demand.
Dirk Forrister, President and CEO of IETA, highlighted the region’s momentum: “The Asia Pacific region is experiencing the fastest growth in carbon markets anywhere in the world. We’ll examine the progress to date, the prospects for additional new emissions markets and how they will all interact with global programmes like the UN’s Article 6 system.”
The partnership with Hong Kong institutions underscores a collective push to establish the city as a strategic hub for carbon market infrastructure, combining regulatory expertise, financial services, and market platforms.
This collaboration reflects growing recognition that coordinated action is essential to translate climate ambition into tangible emissions reductions at scale.
IETA, founded in 1999, represents over 300 international organizations and advocates for robust, efficient, and internationally consistent market-based mechanisms to achieve net-zero goals cost-effectively.
The summit offers media complimentary access, including meals and networking events. Full details and registration are available via the official ACS website.
Source: The International Emissions Trading Association (IETA) on June 25, 2026
