Rethinking the Applicability of Emission Trading System in ASEAN: Lesson from the European Emission Trading System

Abstract

Carbon trading is a universal problem that can be practiced in every country, including in a region such as the European Union. The European Union is the only regional organization that participate as a party to the United Nations Framework Convention on Climate Change (UNFCCC). By far the European Union has established the most ambitious legal framework for reducing carbon emissions in the world. ASEAN as an association of countries in Asia Southeast Asia with a fairly high level of emissions, both from industry-based activities and activities on land have not shown carbon trading cooperation among ASEAN members as shown has been carried out by the European Union. Does ASEAN have its own emission trading scheme or is there one? other schemes that can be followed as in the case of the European Union