Bursa to hold Malaysia’s first nature-based carbon credit auction on July 25

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Bursa to hold Malaysia’s first nature-based carbon credit auction on July 25
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PETALING JAYA: Bursa Carbon Exchange (BCX), a wholly owned subsidiary of Bursa Malaysia Bhd, will host the highly anticipated auction of its first Mal...

Bursa Carbon Exchange , a wholly owned subsidiary of Bursa Malaysia Bhd, will host the highly anticipated auction of its first Malaysian carbon credits on July 25.

Located in Tongod and Kinabatangan districts in Sabah, the Kuamut Project protects and restores 83,381 hectares of tropical forest. The project is a public-private partnership between Sabah Forestry Department, Rakyat Berjaya Sdn Bhd, Yayasan Sabah and Permian Malaysia, which is the project proponent.

The project also simultaneously delivers tangible climate, community and biodiversity co-benefits, earning itself a Gold Level for Climate status under the Climate, Community and Biodiversity Standards. “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. It signals to the world that Malaysia is serious about climate action and its climate ambition. We are committed to advance the transition towards a lower carbon economy by developing a supportive VCM ecosystem through BCX,” he said.

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