BAKU, November 29 – Malaysia has partnered with nine ASEAN nations to establish the ASEAN Common Carbon Framework (ACCF) through a Memorandum of Cooperation (MOC). This transformative initiative aims to create an integrated, efficient, and credible carbon market in the region, supporting green finance and low-carbon investments. As Malaysia gears up for its ASEAN Chairmanship in 2025, this agreement complements its commitment to cutting carbon emission intensity by 45% by 2030, ensuring regional alignment with global sustainability goals.
Minister YB Nik Nazmi Nik Ahmad emphasized, “The ACCF aspires to unlock ASEAN’s unique carbon project opportunities while fostering regional cooperation in carbon trading. By harmonizing standards and regulations, this collaboration enhances global competitiveness and accelerates the region’s transition to carbon neutrality.” With ASEAN projected to become the world’s fourth-largest economy by 2030, the unified carbon framework promises robust demand signals, deeper regional integration, and substantial contributions to global emission reduction targets.
