Readiness Goal 1.5: Develop and implement policies that promotes availability and access to carbon markets
Intent: Promote the use of carbon market to reduce industrial GHG emissions cost effectively.
Indicator 1.5.1: Existence of roadmaps and action plans that supports the design and implementation of carbon emissions trading system. The roadmap should include technical, policy, institutional and legal considerations for carbon market implementation.
Indicator 1.5.2: Based on the national emissions target (R.G 1.1), assess mitigation potential and policy instruments for carbon markets.
Indicator 1.5.3: Conduct feasibility studies and explore choices of market based approaches. (e.g. carbon credit allocation or auction).
Indicator 1.5.4: Existence of carbon market technical paper with information such as industry coverage, emissions target, reference year emissions, monitoring, reporting & verification (MRV) methodology, registry and transaction logging systems.
Indicator 1.5.5: Implement policies and establish organisations that support emissions data collection, market oversight, trading regulation performance verification and potential revenue usage.
Indicator: 1.5.6: Promote international partnership through working with private (e.g. ICAP, TSVCM) and public organisations (e.g. EU-ETS)