Background

As part of Climate Week 3 in Yeosu (21–25 April 2026), the UN Climate Change secretariat, through the Regional Collaboration Centre for Asia and the Pacific (RCC AP), is convening the Regional Dialogue on Carbon Pricing (REDiCAP) for Northeast and Southeast Asia.

Carbon pricing instruments (CPIs), including emissions trading systems and carbon taxes, are increasingly central to countries’ efforts to achieve the goals of the Paris Agreement. Across Asia and the Pacific, many jurisdictions have already implemented such instruments, while others are in the process of designing or strengthening them.

As these domestic systems evolve, there is growing interest in how they can interact with international carbon markets under Article 6 of the Paris Agreement. In this context, the Paris Agreement Crediting Mechanism (PACM) under Article 6.4 offers an opportunity to generate high-integrity mitigation outcomes that can complement domestic policies while ensuring environmental integrity and supporting sustainable development.

This REDiCAP session will provide a platform for regional exchange on how carbon pricing instruments can be strengthened and how linkages with international mechanisms, including PACM, can be effectively explored and integrated into national climate policy frameworks such as Nationally Determined Contributions (NDCs) and Long-Term Low Emission Development Strategies (LT-LEDS).

Objectives

The session aims to facilitate a technical and policy-oriented exchange among countries in Northeast and Southeast Asia on the role of carbon pricing in advancing climate ambition.

Specifically, it will:

• Provide an update on the status and recent developments of the Paris Agreement Crediting Mechanism (PACM).
• Share experiences and lessons learned from the design and implementation of carbon pricing instruments across the region.
• Explore opportunities and challenges in strengthening domestic carbon pricing systems.
• Discuss how international carbon markets, including Article 6.4, can complement national instruments while maintaining environmental integrity.
• Identify practical approaches to integrating high-integrity carbon credits into domestic policy frameworks.

Expected outcomes

The dialogue is expected to:

• Enhance technical understanding of the role of PACM within the broader Article 6 framework.
• Strengthen regional knowledge-sharing on carbon pricing design and implementation.
• Identify common challenges and actionable solutions for integrating international market mechanisms into domestic systems.
• Inform future regional collaboration and capacity-building efforts under the RCC network and CiACA initiative.
• Support countries in aligning carbon pricing instruments with NDCs and long-term climate strategies.

Target audience

The session is targeted at:

• Government officials involved in climate policy, carbon pricing, and market-based mechanisms.
• Representatives from ministries of environment, finance, and energy.
• Technical experts working on emissions trading systems, carbon taxes, and Article 6 implementation.
• International organizations, development partners, and financial institutions.
• Private sector stakeholders and practitioners engaged in carbon markets.
• RCC partners and regional stakeholders involved in climate policy and implementation.