The GGGWeek expert session on Carbon Market Development and its Enablers is strategically convened to accelerate the shift from high-level ambition to practical implementation. Building on insights from the previous day’s high-level session on CJK+ASEAN Cooperation, which aligned with APEC’s vision for a sustainable, innovative, and inclusive future, this session will distill lessons from the region’s diverse experiences in clean energy transition, climate finance, and carbon market development. Experts from China, Japan, and Korea will provide critical regional perspectives to deepen the dialogue and foster knowledge exchange. By bringing together pivotal actors—policymakers, regulators, and standard-setters—the session aims to dissect the evolving carbon market landscape and chart actionable pathways forward. Through targeted dialogue on rule alignment, exploration of technological enablers of integrity, this forum is essential to building a trustworthy, interconnected carbon market system capable of mobilizing climate finance and fast-tracking global net-zero goals.

Finally, realizing the full potential of these markets hinges on a single, non-negotiable factor: trust. Scaling carbon markets with meaningful impact requires integrity, transparency, and interoperability at every level. This calls for a sophisticated ecosystem of enablers, including robust Measurement, Reporting, and Verification (MRV) frameworks, next-generation digital tools—such as AI-powered monitoring systems and AI-enabled registries—as well as coherent, enabling regulatory policies. The session will explore plausible answers and solutions to inherent underlining questions to accelerate the VCM development.