Premiered on:
7 May 2024 (Tuesday)
9:00–10:30 a.m. (Manila time, GMT+8) (Manila)
Microsoft Teams Meeting

Cross-Border Carbon Market Linkages: Implications for Asia and the Pacific

The potential for connectivity among Asian carbon markets is significant, with economic, environmental, and strategic benefits anticipated. Economically, linking markets could lower emissions-reduction costs by offering cheaper credit options and increase liquidity while reducing price volatility. Environmentally, it could minimize carbon price differentials and promote cleaner environments. Strategically, it could foster regional relationships and demonstrate global climate change leadership, potentially enabling more ambitious climate goals. However, uncertainty persists regarding the extent and nature of market integration due to varied technical designs, governance structures, and operational capacities across existing and proposed markets. This webinar aimed to understand the history and experiences on carbon market linkages, and the required institutional, procedural, and regulatory mechanisms. It included discussions on the potential benefits, barriers to linkages, and pathways forward for Asian carbon market connectivity in light of evolving international carbon market trends and policies.

Video Link:

Link to YouTube


Agenda (PDF)

Previous Episode:

Trading Places—Real Spillovers from G20 Emerging Market
2 May 2024 10:00–11:00 (Manila time, GMT+8)
Mara Tayag Senior Economics Officer, Regional Cooperation and Integration Division, Economic Research and Development Impact Department, ADB

Mara Tayag is a senior economics officer of the Regional Cooperation and Integration Division at ADB’s Economic Research and Development Impact Department. She conducts research primarily in the areas of trade integration, cross-border investment, and measures of regional cooperation and integration (RCI). She helps manage the preparation and publication of the Asian Economic Integration Report, ADB’s annual flagship publication on the progress of RCI in Asia and the Pacific. She also supervises a team of national consultants that maintains the Asia Regional Integration Center website and databases, and provides support for RCI-related research. She obtained her masters degree in economics from the University of the Philippines.

Presentation: Theories and Practices of Cross-Border Carbon Market Linkages: Implications for Asia
Michael Mehling Professor of Practice, School of Law, University of Strathclyde; Deputy Director, MIT Center for Energy and Environmental Policy Research (CEEPR), Massachusetts Institute of Technology
Bio Presentation

Michael Mehling is Deputy Director of the MIT Center for Energy and Environmental Policy Research (MIT CEEPR) and a Professor at the University of Strathclyde Law School. He has worked for over two decades on climate policy design and implementation at the domestic and international level, with a focus on carbon pricing and its intersections with energy and financial markets as well as international trade policy. On these topics, Dr. Mehling has advised decision makers in over a dozen countries, testified before or briefed legislators in the European Union, United Kingdom, and the United States, and served as an expert in several climate litigation and arbitration cases. He is also the founding editor of the Carbon & Climate Review (CCLR) and a founding board member of Ecologic Institute in Washington DC, the Blockchain & Climate Institute (BCI) in London, and the European Roundtable on Climate Change and Sustainable Transition (ERCST) in Brussels. Trained as a lawyer, he is a German and American citizen, and has lived for extended periods in Europe, the United States, and Latin America.

Presentation: The Basis for Carbon Market Connectivity in Asia
Jackson Ewing Director of Energy and Climate Policy, Duke University Nicholas Institute of Energy, Environment & Sustainability
Bio Presentation

Jackson Ewing is director of energy and climate policy at the Duke University Nicholas Institute of Energy, Environment & Sustainability. He is also an adjunct associate professor at the Nicholas School of the Environment and a faculty affiliate with the Duke Center for International Development at the Sanford School of Public Policy.

Dr. Ewing’s current work focuses on international climate finance and just energy transition partnerships, environmental markets, US national energy transition policies, and US-China climate and energy relations. He also leads educational exchanges between Asia and the United States through a leadership role with Duke Kunshan University in greater Shanghai. Dr. Ewing has worked in more than twenty countries, and collaborates closely with actors in government, the private sector, civil society, and international organizations. He publishes widely through a range of mediums and contributes to radio, television, and print media.

Prior to joining Duke, Dr. Ewing was director of Asian Sustainability at the Asia Society Policy Institute under the leadership of the Hon. Kevin Rudd, where he led projects on Asian carbon market cooperation and sustainable resource development in the ASEAN Economic Community. He also previously served as a MacArthur Fellow and head of the Environment, Climate Change and Food Security Program at Singapore’s S. Rajaratnam School of International Studies. Dr. Ewing holds a doctorate in environmental security and master’s degree in international relations from Australia’s Bond University, and a bachelor’s degree in political science from the College of Charleston.

Discussion: Comments on the presentations
Junjie Zhang Professor, Nicholas School of the Environment, Duke University; Director, Initiative for Sustainable Investment, Duke Kunshan University

Junjie Zhang is a Professor of Environmental Economics in the Nicholas School of the Environment at Duke University and the Director of the Initiative for Sustainable Investment at Duke Kunshan University. His research focuses on empirical issues in environmental and resource economics, covering air pollution, energy transition, and climate change. He has received funding from reputable sources, including the US National Science Foundation, the US National Oceanic and Atmospheric Administration, China National Natural Science Foundation, China’s Ministry of Ecology and Environment, China Council for International Cooperation on Environment and Development, the Energy Foundation, The World Bank, and Asian Development Bank.

Zhang is a co-chair of the Committee of Environmental Economics in the Chinese Academy of Environmental Science, a member of the Advisory Board for the Nicholas Institute for Environmental Policy Solutions, and the Chief Economist of the Green Finance Forum of 60. Zhang is also an associate editor for the Journal of Economic Behavior & Organization (JEBO) and an editorial board member for the Journal of the Association of Environmental & Resource Economists (JAERE) and the Journal of Environmental Economics & Management (JEEM).

Zhang served as the founding director of DKU’s Environmental Research Center and International Master of Environmental Policy Program. Before that, he was an associate professor in the School of Global Policy and Strategy at the University of California, San Diego. He was the Volkswagen Visiting Chair in Sustainability in the Schwarzman Scholars Program at Tsinghua University. He also served as a senior advisor for the Asia Society, an auditor for the Asian Association of Environmental & Resource Economics, and a co-editor for the China Economic Review.

Zhang holds a BS from the Renmin University of China, a BS and an MS from Tsinghua University, and a PhD from Duke University.

Open Floor Discussion