Singapore, Asia – Countries across Asia are actively developing and refining their carbon market frameworks. Singapore held its first-ever carbon credit auction this year, attracting significant bids, and has signed agreements to purchase carbon credits from nations like Bhutan and Ghana. China's national carbon trading scheme, operational since 2021, updated its ETS guidelines in 2024, expanding the list of key emitters. Vietnam has outlined a three-phase roadmap for its national carbon market, with the first phase focused on legal and infrastructure development by June 2025. Other nations like South Korea and Taiwan have implemented carbon taxes and pricing guidelines to control emissions and promote transparency.