The #EU Carbon Border Adjustment Mechanism (CBAM) i.e. import carbon tax has been a facilitator of driving carbon project investment among other policy initiatives. According to #MSCI Carbon Markets as of April 2024, there are more than 5,000 registered carbon projects worldwide. In both the number of projects and issued credits (MtCO2e), #APAC region’s share is more than 50 percent. If this is broken down to nature-based projects, the APAC share is again more than 50 percent, with issued credits at 36 percent of the global share. If we take the data as of Dec 2023, $36bn was invested in carbon credit projects in the last 10 years, with $18 billion invested in the last three years.