KUCHING, Apr 5: Malaysia requires internationally recognized laws regarding carbon trading to enable such activities to be implemented in the country, said Sarawak Premier Datuk Patinggi Tan Sri Abang Johari Tun Openg.
According to him, Sarawak is ready to implement carbon trading upon passing the Environmental Legislation (Greenhouse Gas Emissions Reduction) Bill 2023, thereby becoming the first state to enact such legislation in the country.
“We are guided by the World Bank, and our approach must include an international system for managing carbon trading, including obtaining international recognition.
“The World Bank requires approval from the Federal Government to allow us (Sarawak) to conduct carbon trading,” he said during the Anti-Corruption Management System Certificate Presentation Ceremony, Regional Corridor Development Authority (RECODA) at his office at Wisma Bapa Malaysia here today.
Also present were Deputy Premier, Datuk Amar Douglas Uggah Embas, Minister of Works, Datuk Seri Alexander Nanta Linggi, Sarawak State Secretary Datuk Amar Mohamad Abu Bakar Marzuki, and RECODA Chief Executive Officer, Datu Ismawi Ismuni.
Abang Johari, who is also the Minister of Energy and Environmental Sustainability, disclosed that Singapore is currently waiting for Sarawak to implement income-generating carbon trading.
“I have discussed this matter with Prime Minister Datuk Seri Anwar and Economic Minister Rafizi Ramli during the National Energy Council meeting in Putrajaya on April 2nd,” he added.
He noted that if international standards exist in the country, Sarawak would have no issues in complying with them.
“During the National Financial Council Meeting 2024 on Thursday, the Federal Government required a two-week period to adapt to the formula used by Sarawak involving the legislation,” stressed Abang Johari. – TVS
