The Malaysia Carbon Market Association (MCMA) was officially inaugurated yesterday, marking a significant milestone in the nation’s pursuit of making carbon markets accessible to all.
The launch event, held during the second annual Malaysia Carbon Market Forum (MCMF), was presided over by the Secretary-General of the Ministry of Natural Resources and Environmental Sustainability, Datuk Dr Ching Thoo Kim.
Nine prominent companies – Bornion Timber Sdn Bhd, Bursa Malaysia Berhad, Cenergi SEA Berhad, EeHSSE Consulting Sdn Bhd, Iskandar Investment Berhad, Petroliam Nasional Berhad (PETRONAS), Sarawak Energy Berhad, SD Guthrie Berhad, and Yinson Holdings Berhad – served as founding members of the MCMA.
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To initiate its operations and develop training programs to cultivate a skilled workforce within Malaysia’s carbon market sector, the MCMA received a seed grant of RM190,000 (~$42,245)
The association aims to foster a dynamic voluntary carbon market (VCM), contribute to the formulation of national carbon market policies, enhance talent development in the field, and forge partnerships with domestic and international carbon stakeholders.
Furthermore, the MCMA seeks to become a unified force within the ASEAN bloc to expedite the adoption of carbon market projects regionally and lay the groundwork for the ASEAN Common Carbon Framework (ACCF).
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Headquartered in Kuala Lumpur, the MCMA is a non-profit organization comprised of key players from Malaysia’s corporate landscape.
In his speech, MCMA president Dr Renard Siew underlined the importance of the Malaysian corporate sector’s role in supporting high-quality carbon projects in Malaysia.
“It is essential that MCMA contributes to shaping national policies that facilitate the development of a vibrant carbon market ecosystem in Malaysia and eventually with other jurisdictions within ASEAN. “We encourage other organizations to join us as members and participate in this crucial endeavor to bring a positive impact to Malaysia and beyond,” Dr Siew said.
