On 8th January 2024, the AACM Secretariat engaged in a meaningful dialogue with the ASEAN Secretariat, marking a pivotal step towards exploring collaborative opportunities within the carbon market. The meeting, featuring H.E. Satvinder Singh, Deputy Secretary General (DSG), and Dharsono Hartono, Permanent Chair of AACM, was characterized by amicable discussions and an insightful exchange of perspectives on ASEAN's crucial role in both the carbon market and Nature-based Solutions (NbS).

During the visit, H.E. Satvinder Singh commended AACM for its significant role in advancing Voluntary Carbon Markets (VCMs) throughout the ASEAN region and supporting the implementation of compliance markets. The ASEAN Secretariat extended congratulations to the AACM Secretariat for its pioneering efforts in advocating for cross-border impacts in carbon market development.

Steven Marcelino, Chief Strategist of AACM, took the opportunity to present the organization's key focus and plans for 2024, outlining three primary areas:

1.  Supply & Generation - To improve capacity and quantity of project developers to generate high integrity carbon credits whilst adhering to world leading best practices (incl. verification, validation, reporting, etc).
2. Market Intermediation - To substantially reduce intermediation costs and frictions and improve access to finance by improving local market infrastructures and by supporting markets’ interoperability.
3. Demand & Assurance - To encourage buyers to consider Southeast Asia as their go to region for high integrity carbon credits needs and to improve transparency with data & ratings at granular details project level.
   

Both parties pledged to collaborate in fostering a regional ecosystem, with a focus on ensuring AACM acts as a central hub for international partnerships. The envisioned activities include capacity building and technical assistance, aimed at establishing a robust foundation for the sustainable development of the carbon market in the ASEAN region. This collaborative effort underscores a commitment to creating a positive impact on the global carbon market landscape.