As the realities of the climate crisis become ever more visible, many across the globe are navigating unique challenges and opportunities in their pursuit of a sustainable future. In 2024, countries in the Asia Pacific (APAC), Latin America and the Caribbean emerged as key players in this phenomenon, leveraging their rich natural resources and special technologies amid acute climate vulnerabilities, to pioneer innovative approaches to sustainable development. This article serves as a recap of the notable trends and developments in renewable energy and carbon markets within these emerging regions over the past year, offering insights into both the promise and complexities of their rapidly evolving landscapes.

In today's ever-evolving global business landscape, companies are proactively exploring sustainable solutions to reduce their carbon footprint and actively participate in environmental conservation. An integral aspect of these endeavors is the deliberate pursuit of higher-impact opportunities for renewable energy sourcing within the dynamic Asian markets, including Power Purchase Agreements (PPAs) and Virtual Power Purchase Agreements (VPPAs).