The Philippines joined the ASEAN Common Carbon Framework as an observer on Nov. 13 at COP31 in Antalya, Turkey.
Aboitiz Foundation Inc. signed the renewed Memorandum of Collaboration representing the Philippines’ Nature-based Solutions industry and CarbonPH Coalition groups, The Manila Times reported. The Department of Finance leads regional efforts to harmonize carbon markets and attract private investments for climate action.
Five founding organizations renewed the framework for another two years during the climate summit in Turkey. These signatories include the Malaysia Carbon Market Association, ASEAN Alliance on Carbon Markets, Singapore Sustainable Finance Association, Indonesia Carbon Trade Association, and Thailand Carbon Markets Club.
The framework seeks to connect fragmented national markets across Southeast Asia. The initiative aims to align with international standards and expand regional representation through its strategy through 2028.
Aboitiz Foundation’s observer role gives Philippine private-sector stakeholders an avenue to share local experience. They engage with regional counterparts on carbon-market development.
Aboitiz Foundation’s participation builds on the work of CarbonPH Coalition and the Philippines NbS Group. They work on forest restoration, biodiversity conservation, watershed protection and community development.
“Our aim is to help build a carbon market where integrity attracts investment, climate action creates economic opportunity, and communities share in the value being created,” said Ginggay Hontiveros-Malvar, Aboitiz chief reputation and sustainability officer.
Greater alignment can help cross-border cooperation and improve market access for carbon projects.
“Aboitiz Foundation is proud to join the Asean Common Carbon Framework as an Observer, representing the Philippines’ Nature-based Solutions industry and Carbon Coalition groups. We welcome this opportunity to share our experiences, learn from our Asean partners, and contribute to building credible carbon markets across the region,” said Ana Margarita Hontiveros, Aboitiz Foundation president.
The Department of Finance hosted the ASEAN Carbon Markets Development and Harmonization Forum 2026 alongside the Securities and Exchange Commission and the Asian Development Bank. Finance Secretary Frederick Go said the initiative unlocks private capital to cut emissions.
Carbon markets are a vital instrument for ASEAN prosperity. By creating a market for trading carbon credits, we can attract investments for climate action. They unlock private capital to reduce emissions. They also channel investments into renewable energy and nature-based solutions.
Frederick Go, Finance Secretary
The framework is not an official ASEAN government mechanism. It operates as an industry-led initiative to complement national policies.
Bilateral agreements under Article 6 of the Paris Agreement continue to develop. Singapore has agreements with regional neighbors allowing companies to offset up to 5 per cent of taxable emissions.
Cooperation through industry associations can renew agreements on carbon-market development. Cooperation through industry associations can renew agreements on carbon-market development, standards alignment, and cross-border collaboration, supporting connected and credible carbon markets across Southeast Asia.