The ACCF Q4 Steering Committee brought together representatives from MoC signatories and senior officials from both public and private sectors across the region to discuss progress under the ACCF's key workstreams. Discussions focused on advancing interoperability, transparency, and the development of high-quality carbon credits that meet international standards, with the shared goal of supporting ASEAN governments in building a more connected and credible regional carbon market. Dr. Vichshuwan Pungchareon, Head of Climate Solutions, BCPG Public Company Limited, and Advisor to the Chair of CMC, also joined the meeting online.
The MCMF 2025, organized by Bursa Malaysia and officiated by Datuk Seri Johari Abdul Ghani, Minister of Plantation and Commodities and Acting Minister of Natural Resources of Malaysia, attracted over 460 in-person and about 100 virtual attendees. Mrs. Gloyta joined the panel discussion titled "ASEAN Common Carbon Framework: Advancing Collaboration for a Unified Carbon Market" together with Dr. Renard Siew, President of the Malaysia Carbon Market Association (MCMA), Dr. Riza Suarga, Chairman of the Indonesia Carbon Trade Association (IDCTA), Mrs. Natalia Rialucky Marsudi, Deputy Chair of the ASEAN Alliance on Carbon Markets (AACM), and Mr. Anshari Rahman, Representative of the Singapore Sustainable Finance Association (SSFA). The session also featured Mrs. Ginggay Hontiveros-Malvar, President of Aboitiz Foundation Inc. from the Philippines, as a guest panelist, and was moderated by Mrs. Joy Foo, Analyst, Environmental Markets, BloombergNEF.
Panelists discussed ways to strengthen collaboration under the ASEAN Common Carbon Framework (ACCF), including developing regional pilot projects and encouraging more active participation from carbon credit buyers. While carbon activities in the region continue to expand, demand remains concentrated, driven mainly by Singapore, whereas Thailand, Malaysia, and Indonesia hold strong potential as suppliers of verified carbon credits. The discussion also emphasized the importance of connecting supply and demand within ASEAN to reinforce the strength of the regional carbon market.
Mrs. Gloyta noted that Thailand was among the first countries in the region to begin carbon credit trading under the Thailand Voluntary Emission Reduction Program (T-VER) in 2016, marking an important step in the country's carbon market development and laying the groundwork for voluntary greenhouse gas reduction. In recent years, several ASEAN countries have developed and piloted carbon pricing instruments such as emissions trading systems (ETS) and carbon taxes to advance their Net Zero goals. She emphasized that raising public awareness and participation will play a key role in driving the next stage of carbon market development across ASEAN.
She also highlighted Thailand's early move toward tokenization of carbon credits, a digital innovation that enhances value, transparency, and transaction security. If developed at the regional level, such initiatives could position ASEAN as a digital hub for high-integrity carbon markets in the future.
The ACCF's private-sector collaboration aims to complement and support government efforts across ASEAN in transforming climate ambitions into actions, creating a regional carbon market that is connected, transparent, and inclusive, and ultimately capable of linking with international markets to meet global demand.