In order to gain an up-to-date view of the dynamic and complex context of compliance carbon market developments in emerging economies, KAPSARC and CEEW convened an expert workshop in Riyadh in October 2025. This joint Commentary builds on the presentations and discussions at the workshop, completing it with secondary literature sources and putting forward an analytical view on the core topics discussed at the workshop. The core focus of the paper is effectiveness: how emerging economies can develop and operate carbon market schemes that deliver on their intended objectives and targets in a way that is effective, which includes delivering the desired emission reductions cost-effectively while ensuring environmental integrity.
