Accelerating Climate Action Through Carbon Markets in Asia and the Pacific Passed
Wednesday November 20, 2024 10:00 - 11:00 +04 The Swedish Pavilion - Open for public
Partner: Swedish Energy Agency
The Asia-Pacific region is among the most vulnerable to the impacts of climate change. Yet, fossil fuel-production is projected to be double the amount in 2030 than is consistent with the Paris Agreement’s goal. The Asia-Pacific region is already the world's largest consumer of fossil fuels, accounting for 80% of the global coal consumption, and emitting over half of global carbon dioxide emissions. There is an urgent need to enhance climate ambition including under nationally determined contributions to meet the temperature targets under the Paris Agreement. International carbon markets have the potential to mobilizing finance to catalyze significant investments in low-carbon technologies and solutions globally, thereby enhancing climate action. However, international carbon markets under the Paris Agreement are at an embryotic stage so it is important for various stakeholders to collaborate for building market confidence and contribute to the development of high integrity international carbon markets.
In this session, early movers in the international carbon markets will discuss the challenges and opportunities for mobilizing carbon finance to enhance climate action in Asia and the Pacific. Representatives from Asian Development Bank’s developing member countries and development partners will share insights and plans on leveraging carbon market mechanisms under Article 6 to enhance climate action, as part of their national strategies to achieve Paris Agreement goals.
Moderator: Virender K. Duggal, Principal Climate Change Specialist, ADB Asian Development Bank
Panelists:
- Caroline Asserup, Acting Director General, Swedish Energy Agency, Sweden
- Sandra Lindström, Head of International Climate Cooperation, Swedish Energy Agency, Sweden
- Malin Meyer, Senior Adviser, Ministry of Climate and Environment, Norway
- Albert Magalang, Chief Environmental Management Specialist, Climate Change Service of the Department of Environment and Natural Resources, Philippines
- Dawa Chhoedron, Chief Engineer, Ministry of Energy and Natural Resources, Bhutan
- Toru Kubo, Senior Director, Climate Change, Resilience, and Environment Cluster (CCRE), Climate Change and Sustainable Development Department (CCSD), Asian Development Bank
Live streamed
Live streamed
Video On Demand
Video On Demand