Bursa Malaysia To Hold Its First Carbon Credit Auction In July

Malaysia Stock Exchange Will Support The Country’s Fledgling Carbon Market - Carbon Herald

Malaysia is making progress with its voluntary carbon market efforts with its stock exchange operator Bursa Malaysia announcing it will hold the country’s first carbon credit auction on July 25th.

“Given the importance of the voluntary carbon market in the nation’s climate agenda, the offering of the Kuamut Project carbon credits is a significant milestone, indicating the country’s environmental leadership,” said Muhamad Umar Swift, CEO of Bursa Malaysia.

The auction will be run through Bursa Carbon Exchange (BCX), which was launched at the end of 2022 and joined the International Emissions Trading Association in April 2023.

The credits on offer will come from the Kuamut Rainforest Conservation Project which spans over 83,381 hectares in eastern Malaysia. This will be the first auction for nature-based credits generated from within the country and is expected to act as a litmus test for demand.

The region’s forests play a vital role as carbon sinks and are home to some of the largest carbon projects in the world. But there has been some controversy around them recently with Indonesia’s Ministry of Environment and Forestry revoking the license of the Rimba Raya project on Borneo Island because of violations of local regulations last week.

Read more: Bursa Carbon Exchange Joins IETA To Expand The Voluntary Carbon Market

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