Asia's Carbon Markets Strategic Imperatives for Corporations 2025

Images: Midjourney, Getty Images Disclaimer This document is published by the World Economic Forum as a contribution to a project, insight area or interaction. The findings, interpretations and conclusions expressed herein are a result of a collaborative process facilitated and endorsed by the World Economic Forum but whose results do not necessarily represent the views of the World Economic Forum, nor the entirety of its Members, Partners or other stakeholders. © 2025 World Economic Forum. All rights reserved. No part of this publication may be reproduced or transmitted in any form or by any means, including photocopying and recording, or by any information storage and retrieval system.Contents Foreword Executive summary Introduction 1 The carbon market landscape in Asia 1.1 Regional overview 1.2 China – the world’s largest carbon market 1.3 Developed Asian economies – pioneers in robust carbon pricing 1.4 Emerging Asian economies – aiming for connected carbon markets 1.5 Regional and international collaboration 2 Strategic imperatives for corporations Imperative #1 Overcome challenges on the net-zero journey – by engaging with carbon markets Imperative #2 Capture new business growth opportunities – empowered by carbon markets Imperative #3 Actively build ecosystems – to unlock the full potential of carbon markets Conclusion Appendix Abbreviations Contributors Endnotes3 4 6 8 9 10 16 18 20 22 24 36 41 46 47 48 49 51 Asia’s Carbon Markets: Strategic Imperatives for Corporations 2