: The federal government will ensure that the sale of carbon credits abroad does not undermine Malaysia’s achievement of its nationally determined contribution targets, the Dewan Rakyat was told today.
“At the same time, to encourage and support carbon generation initiatives from the forestry sector, the ministry has established the Malaysia Forest Fund as the entity responsible for implementing efforts and innovative financial strategies for the forestry sector and we have seen that carbon credits have started to be traded on the platform Bursa Carbon Exchange and the Kuamut Project in Sabah.
He said this in his reply to a question from Datuk Mohd Shahar Abdullah who wanted to know the action taken by the ministry regarding the federal-state coordination in generating carbon credits from Malaysian forests Nik Nazmi highlighted that carbon credits and RECs have the potential to stimulate the development of low-carbon projects to support Malaysia’s goal to achieve a 45 per cent reduction in emissions intensity by 2030, based on gross domestic product levels in 2005, as outlined in Malaysia’s NDCs.
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