Petronas, TNB express interest in producing carbon credits — Bursa CEO

8/4/2022 10:35:00 AM

Petronas, TNB express interest in producing carbon credits — Bursa CEO - Bernama

Petronas, TNB express interest in producing carbon credits — Bursa CEO - Bernama

KUALA LUMPUR (April 8): Petroliam Nasional Bhd (Petronas), Tenaga Nasional Bhd (TNB), and other public listed companies (PLCs) have expressed interest in producing credits for the planned Voluntary Carbon Market (VCM).Bursa Malaysia Bhd chief executive officer (CEO) Datuk Muhamad Umar Swift said in addition to developing the carbon exchange, it is also seeking parties to produce the carbon credits.He said VCM will help Malaysian companies remain competitive in the country's exporting markets.In addition, it will provide a mechanism for

A KUALA LUMPUR (April 8): Petroliam Nasional Bhd (Petronas), Tenaga Nasional Bhd (TNB), and other public listed companies (PLCs) have expressed interest in producing credits for the planned Voluntary Carbon Market (VCM).Telegram channel for the latest updates.Telegram channel for the latest updates.A KUALA LUMPUR (April 7): Bursa Malaysia ended the morning trading session lower on profit-taking on selected heavyweights in line with the performance of regional peers.

Bursa Malaysia Bhd chief executive officer (CEO) Datuk Muhamad Umar Swift said in addition to developing the carbon exchange, it is also seeking parties to produce the carbon credits.He said VCM will help Malaysian companies remain competitive in the country's exporting markets.At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) was 7.In addition, it will provide a mechanism for Malaysian companies to offset their carbon obligations in export countries, Muhamad Umar said this during a session on corporate sustainability & environment, social and governance (ESG) investing, organised by the School of Economics, Finance and Banking, Universiti Utara Malaysia.5 percentage-point increase were it not for the uncertainty caused by Russia’s invasion of Ukraine.Malaysia's third-largest trading partner, the European Union (EU), is seeking to impose a levy on imported carbon-intensive products.72 compared with Tuesday’s close of 1,596.Consequently, Malaysian exporters may have to pay a tax in order to sell their products in the EU market, which is where the VCM could help neutralise the impact, he said.72.

By achieving carbon neutrality of their products, exporters can ship their products to the EU seamlessly, he added.The key index opened 0.32 points lower at 1,602."We wanted to look at how we can address the threat and opportunity," Muhamad Umar said.On ESG, he said Bursa Malaysia has issued a public consultation document to seek feedback on the mandatory disclosure of various ESG metrics.12 and moved between 1,595."This will make it easier for investors to understand what companies are doing to meet their ESG requirements," he said.The barometer index opened 0.Muhamad Umar said the Covid-19 pandemic has put ESG on the road map of many companies.50 throughout the day.On the broader market, losers surpassed gainers 585 to 316, while 355 counters were unchanged, 980 untraded and 16 others suspended.

At present, there are 79 PLCs in the FTSE4Good Bursa Malaysia Shariah index, which was launched in July 2021 to cater to investor demand for ESG and shariah-compliant index solutions.He said adopting ESG is crucial for PLCs mainly to secure capital as more investors and fund managers are now adopting the sustainable elements.Total turnover decreased to 3.On the broader market, losers led gainers 226 to 120, while 230 counters were unchanged, 1,660 untraded and 16 others suspended.The Employees Provident Fund has launched a sustainable investment policy to achieve its commitment to ESG compliance by 2030 and a climate-neutral portfolio by 2050.Permodalan Nasional Bhd will also launch its ESG pledge soon.47 billion from 3.Bursa Malaysia has also introduced PLC transformation programme that will run through to 2025, aiming at steering all PLCs towards accelerating their growth strategies and improving performance.11 million.

The programme will help PLCs achieve higher levels of profitability in view of the changing investment climate with ESG.37 billion on Tuesday.Muhamad Umar said two-thirds of listed companies on Bursa Malaysia have experienced losses during Covid-19.He said, in fact, PLCs' downtrend in profitability has been seen for some period of time.“Key Asian markets took their cue from the weaker Wall Street after the United States Federal Reserves (US Fed) reiterated its more aggressive approach in tightening its monetary policy to tame inflation amidst the unresolved conflict between Russia and Ukraine.“We might see a pullback in the oil and gas (O&G) sector following the retracement in oil price, and traders might avoid technology stocks in view of the more hawkish environment going forward.Subscribe to Mid-day email alert We deliver news to your inbox daily.

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