This white paper explores the role of carbon markets in financing decarbonisation measures for fashion and apparel sector value chains. While the analysis draws on global insights, the carbon pricing landscape in Southeast Asia is examined in greater detail as it is a hotspot for fashion value chain emissions. This paper is intended for decision-makers across the fashion ecosystem, including brands and retailers seeking credible strategies to reduce Scope 3 emissions; manufacturers navigating emerging carbon pricing frameworks; financial institutions enabling the uptake of carbon finance models; and policymakers shaping enabling environments for carbon pricing and market-based solutions.