Carbon Pricing in ASEAN and East Asia Summit Countries: Are Consumers Willing to Pay?

Carbon pricing is a crucial tool for reducing emissions, yet public acceptance in ASEAN and East Asia Summit countries (EAS) remains under-explored. This study analyzes stakeholders' willingness to pay (WTP) for a carbon price based on a primary survey conducted between September 2023 and May 2024 of 520 respondents consisting of different consumer groups from the region. Using a multinomial logistic regression model, we test three hypotheses. Results show stakeholders are willing to pay up to US$10 per unit of carbon. Contrary to some existing literature, revenue recycling through financial assistance to low-income households is not a critical factor for acceptance. However, regional harmonization of carbon pricing is perceived as vital to mitigate the impact of the EU's Carbon Border Adjustment Mechanism (CBAM). The findings highlight the importance of clean energy incentives and regional cooperation for effective carbon pricing policy in the region.