Carbon Regulations in Asia – What should I know?
Published on
11 Jan 2022
![Carbon Regulations in Asia – What should I know?](https://cdn.prod.website-files.com/65d6d578c2d660de49810f23/65f435e769aeaf45258c1142_Carbon%20Regulations%20in%20Asia%20%E2%80%93%20What%20should%20I%20know_.webp)
Carbon regulations in Asia vary across different countries in the region. Here are some examples of carbon regulations and initiatives in prominent Asian countries:
- China:
- China has implemented a national carbon market, known as the Emission Trading Scheme (ETS). The ETS initially covers the power sector and has plans for expansion to other industries.
- The country has set targets to peak its carbon emissions by 2030 and achieve carbon neutrality by 2060.
- China has implemented various policies and regulations to promote renewable energy, energy efficiency, and low-carbon technologies.
- Japan:
- Japan has established the Tokyo Cap-and-Trade Program, which covers large commercial and industrial facilities in the Tokyo Metropolitan area.
- The country has set a target to achieve a 26% reduction in greenhouse gas emissions by 2030 compared to 2013 levels.
- Japan provides subsidies and incentives for renewable energy projects and promotes energy efficiency measures.
- South Korea:
- South Korea has implemented a national Emission Trading System (ETS) that covers several industries, including power generation, manufacturing, and buildings.
- The country has set a target to reduce greenhouse gas emissions by 37% below business-as-usual levels by 2030.
- South Korea promotes the use of renewable energy and offers incentives for energy-efficient buildings and appliances.
- India:
- India has several initiatives and policies focused on renewable energy, including the National Solar Mission and the National Wind Energy Mission.
- The country aims to achieve 40% of its energy capacity from non-fossil fuel sources by 2030.
- India has implemented energy efficiency programs and standards for industries and buildings.
- Securities and Exchange Board in India requires companies to disclose their sustainability initiative in accordance with the Business Responsibility and Sustainability Reporting format.
- Southeast Asian Countries:
- Several countries in Southeast Asia have pledged to reduce emissions under the Paris Agreement.
- Countries like Indonesia, Thailand, and Vietnam have renewable energy targets and policies in place.
- Singapore has implemented a carbon pricing mechanism known as the Carbon Pricing Act.