The Philippines carbon market: new rules, a Singapore deal, and a pipeline that has barely issued
A Singapore Implementation Agreement (Apr 2026), new forest carbon rules with a 60% Filipino-ownership test, and a pipeline that has barely issued.
Indonesia's carbon market: the region's biggest pipeline, reopened to the world
Perpres 110/2025 reopened exports; four forest projects cleared in Jul 2026; IDXCarbon, a power-sector ETS, and the region's largest pipeline.
Vietnam's carbon market: a new exchange, export caps, and the region's most registered projects
Pilot ETS for 110 plants, a carbon exchange opened Jun 2026, Article 6 export caps from May 2026, and the region's most registered projects.
Thailand's carbon market: the region's first ITMOs, a climate law in waiting, and a late-to-verify problem
First ITMOs for NDC use (Bangkok e-buses), Singapore's first ASEAN partner, Premium T-VER, a climate law pending, and 26 projects late to verify.
Malaysia's carbon market: a national policy, a postponed tax, and state rules for forest carbon
National Carbon Market Policy (Apr 2026), carbon tax postponed, Bursa Carbon Exchange, and Sabah and Sarawak's own forest carbon laws.
Cambodia's carbon market: two REDD+ giants and a rulebook built for Article 6
Southern Cardamom and Keo Seima dominate issuance. A three-stage Article 6 manual since 2023, but still no signed Singapore deal.
Laos' carbon market: a new decree, a fresh Singapore deal, and a hydropower-heavy registry
Singapore Implementation Agreement signed 4 Sep 2026; a 2025 carbon credit decree; hydropower-heavy registry, ARR-heavy pipeline.
Singapore's carbon market: the region's buyer, not its supplier
Carbon tax S$45/t from 2026, 5% offset allowance, 12 Implementation Agreements and a 12 Mt ITMO tender. The demand side of the region.
Myanmar's carbon market: cookstoves, mangroves and the first Paris credits
First-ever Article 6.4 issuance (Feb 2026) came from a Myanmar cookstove project. Voluntary registries: cookstoves and mangroves.
Timor-Leste's carbon market: community forestry, cookstoves and rules still to come
Community forestry on Gold Standard, a large cookstove claim in the pipeline, and carbon rules still being drafted.
Project counts: Verra, Gold Standard, Isometric and Equitable Earth, as read 2026-10-01. Brunei has no projects on these registries yet.
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