In recent years, carbon markets have gained increasing attention from governments, corporations, and investors. In Southeast Asia, Thailand and Malaysia have established voluntary carbon credit trading platforms and exchanges in 2022. Unlike mandatory carbon allowances, voluntary carbon credits can be generated and traded in different locations, making them an essential instrument for many multinational companies to achieve carbon neutrality. However, as more countries and companies commit to net zero, the price of carbon credits has been rising, making it an issue that cannot be ignored by governments and businesses to gain a competitive edge in this emerging market.
Thailand and Malaysia open door to carbon trading
Southeast Asia is experiencing rapid development in the voluntary carbon market, with Thailand and Malaysia following Singapore's lead by actively establishing related systems. Holding an advantage of being home to numerous international companies, Singapore has become the first country in the region to develop a voluntary carbon market. The country allows companies to purchase carbon credits around the world to offset emissions from factories in different regions, thus helping it move towards its goal of becoming a carbon trading hub. In contrast, Thailand and Malays