Singapore, 18th April 2024: Abatable and ASEAN Alliance on Carbon Markets (AACM) are pleased to announce a strategic partnership to support the Alliance to advocate for carbon markets development in ASEAN and Indonesia markets.

The ASEAN region is home to some of the more advanced carbon markets and boasts one of the world’s most investable carbon stocks. A recent surge in financing opportunities for nature-based transactions aimed at combating deforestation has been seen here, alongside a rise in domestic carbon market programmes.A thriving Voluntary Carbon Markets (VCM) combined with robust Compliance Markets will be a powerful climate financing tool for ASEAN member states, drawing inward investments and promoting economic growth whilst accelerating climate action towards net zero economies.

The partnership was announced at the AACM Executive Dialogue: Scaling Climate Impacts through Carbon Markets in Southeast Asia, held at the Embassy of the Republic of Indonesia in Singapore during the annual Ecosperity Week. The dialogue looked at a wide range of project types from Nature-based Solutions (NbS); biochars; transition credits to ITMOS. The Dialogue, joined by senior representatives from IC VCM; Offset8 Capital; Singapore Prime Minister Office; RMU; Equatorise Advisory and Indonesia’s MoFA also discussed:

1. Top challenges and opportunities for carbon markets projects, and how AACM can support the regional ecosystem development
2. AACM’s ambition at ASEAN level given its recent presence at the ASEAN Economic Ministerial Retreat to advocate for carbon markets development
3. Importance of policy advocacy on ASEAN and Member State specific to promote scaling of carbon markets in Southeast Asia
4. Key trends in 2024 and beyond on investors and corporate buyers demands on carbon offsets.
   

The Abatable-AACM partnership will focus on supporting the AACM’s policy advocacy work, focusing on two upcoming reports on carbon markets in ASEAN wide and in Indonesia markets, led by Abatable’s policy specialists. We anticipate the ASEAN report will be launched at the New York Climate Week whilst the Indonesia report will be launched in the International Sustainability Forum (ISF) in Jakarta in September 2024.

AACM is also welcoming Abatable as the newest member of the International Advisory Board (IAB) of AACM. The IAB provides technical advice and global thought leadership for the AACM SteerCo, the committee is the main decision making body of the Alliance.

Co-Founder of Abatable, Maria Eugenia Filmanovic, speaking as part of the dialogue discussions today, comments: “Carbon markets have proven to be an effective tool in facilitating finance flows from rich to low- and middle-income countries, supporting positive solutions for climate, nature and people. We are delighted to be partnering with the AACM to advance the development of carbon markets across Southeast Asia. As the first private sector-led body to advocate for cross-border efforts in the areas of carbon market development, this collaboration solidifies Abatable’s role at the centre of carbon market policy within this important region.”

Dharsono Hartono, Permanent Chair of the AACM and CEO of PT RMU, said: “I’m pleased to see the strategic partnership between Abatable and AACM signed today in Singapore. The Alliance is well-positioned to work with leading organisations and international partners to address the most pressing issues in both the VCM and compliance markets. In 2024, we will be looking at two reports focusing on the ASEAN region and on the Indonesia market. As the ASEAN Secretariat is shaping the next ASEAN Economic Community blueprint for the next 25 years and as we’re seeing the Indonesian government in transition for a new administration by this October, AACM wish to foster a regional ecosystem with multi-sectoral approach to support their key priorities to allow Southeast Asia to truly unleash economic and environmental benefits for the ASEAN region, Indonesia and wider societies. Beyond 2024, the AACM will be looking at Malaysia and other countries' deep dives subject to inputs from our International Advisory Board (IAB)”.

Steven Marcelino, Deputy International Affairs of the AACM and Managing Partner of Equatorise Advisory, said: “The policy advocacy track has been a key part of AACM since its inception. AACM is inclusive by nature, welcoming both Southeast Asian domiciled organisations as well as those in ASEAN Dialogue Partner countries outside the region. We hope the Abatable-AACM partnership can support the Alliance in contributing market insights to key policymakers through key reports that will be launched in the Autumn of 2024. For the first time, we will be able to look at all types of carbon projects from NbS; Biochar; and so on in a single study to project potential inward investment and job creation opportunities whilst addressing the climate crisis.”

HE Suryo Pratomo, Indonesia Ambassador to Singapore said: “Indonesia is delighted to see the continuation of such a positive legacy project at the back of Indonesia’s ASEAN Chairmanship in 2023. The ASEAN Alliance on Carbon Markets (AACM) plays a key role to foster a robust ecosystem of players across the carbon markets value chain that will be able to work hand in hand with Indonesia and ASEAN policymakers to really get this industry off the ground. We really applaud what AACM is trying to do to foster the first regional ecosystem to promote scaling Voluntary Carbon Markets across ASEAN and to support implementation of compliance markets in the region. It is crucial to have AACM & Abatable to support governments in Indonesia & ASEAN for capacity building and technical assistance to ensure the various elements work in practice. I believe there is a strong role for carbon markets to play in the Indonesia 2045 roadmap, given the current Jokowi Administration has launched Indonesia Carbon Exchange through IDX, a promising milestone last year with more to come”.

1. ASEAN is the acronym of a regional bloc of the Association of Southeast Asian Nations)
2. ITMOs refer to bilateral international agreements between two countries to facilitate the exchange of information and cooperation in specific areas such as trade, security, or cultural exchange. These agreements outline the terms and conditions under which the participating countries agree to share resources, expertise, and collaborate on mutual interests. They serve as frameworks for promoting diplomatic relations and addressing common challenges or opportunities between nations.

For further information on the ASEAN Alliance on Carbon Markets, go to https://aseancarbonalliance.com/
For further information on Abatable and its service offering, go to abatable.com.
Media contact: [email protected]
Media contact: [email protected]

About Abatable

Abatable is on a mission to enable all organisations to build a thriving future for climate, nature and people. We do this by developing the tools organisations need to confidently navigate carbon markets and find the right partners, understand market risk and amplify their planetary impact. Our solutions are enabled by technology, and powered by people, making us a trusted guide for organisations looking to take action within the complex and evolving carbon markets.

About AACM

ASEAN Alliance on Carbon Markets (AACM) will be the first private sector-led body to advocate for cross-border efforts in the areas of carbon market development. AACM will foster a regional ecosystem and act as a focal point for international partnerships, with activities including capacity building and technical assistance.