亚洲碳市场：企业的战略要务（英）

Asia’s Carbon Markets:Strategic Imperatives forCorporations I N S I G H TR E P O R TS E P T E M B E R2 0 2 5 Contents Foreword3 Executive summary4 Introduction6 1.2 China – the world’s largest carbon market10 1.3 Developed Asian economies – pioneers in robustcarbon pricing16 1.4 Emerging Asian economies – aiming for connectedcarbon markets18 1.5 Regional and international collaboration20 2 Strategic imperatives for corporations22 Imperative #1 Overcome challenges on the net-zero journey –by engaging with carbon markets24 Imperative #2 Capture new business growth opportunities –empowered by carbon markets36 Imperative #3 Actively build ecosystems – to unlock the fullpotential of carbon markets41 Conclusion46 Appendix47 Abbreviations48 Contributors49 Endnotes51 Disclaimer This document is published by theWorld Economic Forum as a contributionto a project, insight area or interaction.The findings, interpretations andconclusions expressed herein are a resultof a collaborative process facilitated andendorsed by the World Economic Forumbut whose results do not necessarilyrepresent the views of the World EconomicForum, nor the entirety of its Members,Partners or other stakeholders. ©2025 World Economic Forum. All rightsreserved. No part of this publication maybe reproduced or transmitted in any formor by any means, including photocopyingand recording, or by any informationstorage and retrieval system. Foreword Dominik UtamaPartner and APACPractice Lead, Sustainabilityand Responsibility,Bain & Company Sebastian BuckupManaging Director,World Economic Forum The global imperative to address climate changehas reached a critical juncture, with the ParisAgreement’s goal of limiting warming to 1.5°Cdemanding urgent, coordinated action. Centralto this effort is Article 6 of the Paris Agreement,which has emerged as a transformative frameworkfor international cooperation – enabling cross-border carbon trading, harmonizing standards andmobilizing global capital to scale up climate solutions. By spotlighting Asia’s unique carbon marketpractices, we aim not only to empower the region’sdecarbonization journey but also to inspire globalclimate action, offering a blueprint for nationsworldwide. The evolving landscape of carbon markets inAsia forces corporations to take the initiativeamid changes to tackle challenges and captureopportunities. We move beyond genericdecarbonization strategy analysis, weaving togethermarket evolution, core participants and thebroader ecosystem of stakeholders. By anchoringcorporate thinking in this interconnected web,we reveal how businesses can navigate carbonmarket complexities, not just as participants but ascatalysts for systemic change. In this context, carbon markets have becomeindispensable tools, aligning environmental ambitionwith economic pragmatism to accelerate thetransition to net zero. According to the InternationalMonetary Fund (IMF), countries across the Asia-Pacific region face a climate financing shortfall of atleast $800 billion. As innovative instruments, carbonmarkets serve as critical mechanisms for mobilizingresources and reducing costs, granting countriesand companies the flexibility to smooth their low-carbon transitions. Asia, with more than 50% ofglobal emissions and 55% of GDP, stands at theforefront of this transition. As we move through 2025 and towards ever-escalating climate crisis, the urgency of reachingpeak emissions and carbon neutrality has neverbeen more acute. This report fuels that momentum.It calls for Asia to leverage its carbon marketinnovations, for corporations to embrace strategicclimate leadership and for global stakeholders tounite in harnessing market mechanisms to driveirreversible, transformative change. Together, letus seize the opportunity to move from ambitionto impact, exploring how economic progress andclimate stewardship can be aligned. Against this backdrop, the World Economic Forumin collaboration with Bain & Company offers thisinsight report, which presents a comprehensivereview of the Asian carbon market. It decodes theregion’s pioneering innovations, dissects criticalmarket dynamics and distills hard-won lessons. Executive summary Asia’s carbon markets are becomingincreasingly integrated, offering businessesthe opportunity to revamp decarbonizationplans and secure a competitive edge in thelow-carbon transition. Asia hosts quite advanced carbon markets (e.g.Japan, South Korea, Singapore) and is developingnascent systems (e.g. India, South East Asia).China, which hosts the world’s largest carbonmarket and the biggest mandatory nationalemissions trading system (ETS), has relaunchedits voluntary carbon market, Chinese CertifiedEmissions Reduction (CCER). This report’sprojections suggest that China’s ETS could reachRMB 400-600 billion ($56-84 billion) in marketsize by 2030, driven by 2 billion tonnes of carbontraded at RMB 200-300 ($28-42) per tonne.4Suchdevelopments serve as models for other emergingeconomies in