MCMA Partners with ASEAN Associations for Regional Carbon Market Framework
The Malaysia Carbon Market Association (MCMA) has signed a Memorandum of Cooperation (MOC) with four ASEAN carbon market associations to develop the ASEAN Common Carbon Framework (ACCF). This initiative aims to create unified carbon markets, promote green finance, and strengthen ASEAN’s global competitiveness. The collaboration supports Malaysia’s target to reduce carbon emissions by 45% by 2030 and aligns with its ASEAN Chairmanship in 2025. Minister Nik Nazmi Nik Ahmad emphasized the ACCF’s role in unlocking regional carbon opportunities and fostering integrated markets. ASEAN, with its 600 million population and $3.8 trillion GDP, is projected to become the fourth-largest global economy by 2030.
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