Asia and the Pacific have achieved rapid economic expansion in the recent years, and the region has become a major source of greenhouse gas (GHG) emissions. With more than half of the world’s population and high rates of economic growth, the region is especially vulnerable to the effects of climate change and therefore must play its part in cutting GHG emissions, according to the authors of this report. Seventeen emissions trading systems (ETS) are in place on four continents, and they account for nearly 40% of global gross domestic product. In Asia and the Pacific region, 11 systems are operating and more are being planned. The growing wealth of experience on ETS can be valuable to support developing member countries that are planning and designing new systems of their own. This “knowledge product” report summarizes some of the most significant learning experiences to date and discusses some of the solutions to alleviate challenges that have been faced. It also examines the possibilities for future linked carbon markets in the region.