Yinson recently participated in the 29th Conference of the Parties (“COP29”), the world’s foremost climate change conference, held from 11 – 22 November in Baku, Azerbaijan, with the exchange of a Memorandum of Collaboration (“MoC”) between five major carbon market associations representing Malaysia, Indonesia, Singapore, Thailand, and ASEAN, as well as an insightful panel discussion on carbon markets.

The Malaysia Carbon Market Association (“MCMA”), spearheaded by Yinson, signed the MoC alongside ASEAN Alliance on Carbon Market (“AACM”), Indonesia Carbon Trade Association (“IDCTA”), Thailand Carbon Market Club (“TCMC”), and Singapore Sustainable Finance Association (“SSFA”). The MoC aims to foster greater interoperability between ASEAN nations’ carbon markets, enhance carbon price efficiency, and develop capacity building support towards high-quality carbon projects in both developing and emerging communities.

In addition to the MoC exchange, the associations held a panel discussion moderated by Janet Hallows, Director of Climate Programs & Nature-based Solutions from the Carbon Market Institute, and featured esteemed panellists – Dr Renard Siew, Yinson Group Head of Corporate Sustainability and President of MCMA, Frederick Teo, CEO of GenZero, representing SSFA, Dr Gloyta Nathalang, Chair of TCMC, Yoshan Fazri, Head of IDCTA Europe Office, Global Head of Sustainable Finance & Investment in Rabobank Climate Fund, representing IDCTA, and Natalia Rialucky Marsudi, Deputy Chair of AACM. The panel focused on the future of carbon markets and the role of regional cooperation in achieving climate goals. The discussion provided valuable insights into the challenges and opportunities within the carbon market landscape, emphasising the importance of collaborative efforts to drive meaningful progress.

Dr Renard Siew commented, “Our participation in COP29 reflects our commitment to making a meaningful impact on climate change. By joining forces with key regional players, we aim to drive significant progress in the development of robust carbon markets and sustainable practices across ASEAN.”

COP29, led by the United Nations, is the 29th gathering of the Conference of the Parties to the UNFCCC (United Nations Framework Convention on Climate Change). This annual event brings together representatives from nearly 200 countries to negotiate and implement strategies to address the root causes of climate change.

For more information on COP29, please visit: https://cop29.az/en/home.