PILOT PROJECTS IMPLEMENTATION ON
STRENGTHENING TRANSPARENCY OF FACILITY-LEVEL
GHG MEASUREMENT AND REPORTING (M&R) IN THE
ASEAN REGION
December 12, 2023,
Singapore Pavilion, COP28
Pierre Guigon
Senior Climate Finance Specialist
Climate Change Group
The World BankThe World Bank is supporting carbon market development and carbon pricing preparationand implementation

Innovation, Product/ Process Development, Advisory, andImplementation

UNLOCKS CLIMATE FINANCE &AMBITION

Innovation: Climate Market Club,

Climate Warehouse, Invest4Climate,Carbon Market Platform, Newapproaches, methodologies, andbusiness models

Partnership for Market Implementation
Country Programs(Implementation of Carbon Tax, Emission Trading
System and Crediting Mechanisms)

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CARBON+ APPROACH PUTS PEOPLE
FIRSTTHREE PILLARS STRETCH ACROSSSECTORSThe World Bank is supporting the ASEAN Member States’ (AMS’)
development/implementation of CPIs and participation in international carbon markets
Six AMS have embarked on the preparation or implementation of carbon pricing instruments to protect interests inglobal supply chains and meet national and international climate targets and commitments. Two CPIs (tax in Singaporeand ETS in Indonesia) have already been implemented. CPIs are under consideration in Malaysia, Philippines, Thailand,and Vietnam.
Status of Carbon Pricing Instruments in ASEAN
ETS & Carbon Tax : Under consideration

ETS: Development in progress(major industrial facilities)

TVER: Implemented
Carbon Tax: Implementation delayed
Rate: USD 2.0/tCO2

ETS: Implemented for state-owned coal power
plants since Feb 2023, to be expanded incoming years to all power sector

ETS: Development in Progress (Pilon in 2026)(coal power, steel and cement sectors)
National Crediting Program: Development inProgress (Pilot in 2025)

ETS & Carbon Tax : Under consideration

Carbon Tax: Implemented since 2019
Rate: USD 3.5/tCO2 (2022), gradual increase toUSD 35 – 56/tCO2 (2030)

The World Bank is also supporting the ASEAN’s Enhancing Cooperation on Carbon Pricing
Among ASEAN Member States (AMS)⚫

This project is funded by the Government of Korea, and the National
Environment Agency Singapore is the AMS Partner. It is a part of theASEAN Working Group on Climate Change (AWGCC) Action Plan 202125.

⚫

The project facilitates the AMS’ understanding and engagement onenhanced regional cooperation on climate change mitigation via carbon
pricing. It comprises three activities:

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Activity 1: Analysis of AMS national plans for CPI, identification of
key opportunities for cooperation and preparation of an indicativeroad map for ASEAN cooperation and harmonization of policies andstructures. >> Roadmap for ASEAN CPI Cooperation andHarmonization−

Activity 2: Evaluate the benefits and costs of regional cooperation
via carbon pricing in ASEAN >> Evaluation Report−Activity 3: AMS stakeholder dialogue, including organizing (virtual)
consultation and dissemination workshops on the results of theregional CPI cooperation and harmonization analysis and on the
proposed road map >> Stakeholder Workshops

The Roadmap is organized around four themes which have been derived from a combination of
our assessments and priorities expressed by AMS. Regrading Improving MRV systems….

Theme 3: Improving MRV systems

Possible Activities for further AMS
cooperation

AMS’s priorities
Improving MRV systems across AMS, particularly at
thefacility-level,andencouraging
harmonisation of these systems to enable mutualrecognition as a precondition to international tradein carbon credits. This is further supported by theestablishment of an ASEAN MRV knowledge hub.
Recognising and coordinating the existing
cooperation initiatives related to ASEAN MRV
guidelines, the Roadmap incorporates the CiACA
and PaSTI-JAIF activities rather than duplicatingthem.

•

Recognizing that some countries have not yet
started to develop their GHG MRV systems, theMRV knowledge hub should arrange training
sessions to address the key design elements at
various stages of MRV systems.

•Piloting of facility-level GHG Measurement
and Reporting projects in AMS following thesteps in the Guidance State developed by thePaSTI-JAIF project, with support from the MRV
knowledge hub.

CiACA: The Collaborative Instruments for Ambitious Climate Action; PaSTI: Partnership to Strengthen Transparency for Co-Innovation; JAIF: Japan ASEAN Integrated Fund

The World Bank’s country-/theme-specific support to AMS have lots of synergies with Phase 3of the PaSTI-JAIF projectCountry- Specific Program(a) National Registry and MRVDevelopment Support (e.g.,Indonesia, Malaysia, Vietnam)(b) High-quality Emission Reduction
Project Development (e.g.,Vietnam)

Theme-Specific Support(a) Design connected infrastructure
for generating (dMRV), recording(registries) and tracking (CADTrust) of ERCs (ClimateWarehouse)

Phase 3 of the PaSTI-JAIF project(a) Facilitate the smooth
introduction andoperationalization of GHG M&R
Framework in AMS(b) Promote and support the AMS
government’s efforts toincentivize the private sector
towards adopting GHG M&R
and stimulating emission
reductions(c) Conduct capacity building
technical seminars for AWGCC
NFPs