Carbon market: State in talks on potential projects

Sarawak aims to venture into the carbon market using credible approaches and reputable international protocols.

Deputy Minister of Energy and Environmental Sustainability Dr Hazland Abang Hipni said the Sarawak government is currently in talks with other governments, organisations and companies over various potential projects for collaborations.

“The Sarawak government has recently agreed to establish a working group on carbon credit and carbon capture and storage (C4S) between Sarawak and Singapore to explore and develop potential projects together.

“The Ministry of Energy and Environmental Sustainability together with the Ministry of Natural Resources and Urban Development are currently finalising The Forest (Carbon Activities) Rules and the Land (Carbon Storage) Rules to enable Carbon Trading primarily through voluntary carbon market,” he said, when replying to a question from Azizul Annuar Adenan (GPS-Tanjong Datu) yesterday.

On Sarawak’s green economy policy, Dr Hazland said it will be launched at the upcoming Asia Carbon Conference 2023 in Kuching and will leverage on low carbon opportunities in naturebased solutions coupled with technology towards developing a hydrogen economy.

“Sarawak has vast potentials and opportunities in naturebased solutions, particularly the forestry sector.

“This reinforces Sarawak’s aspiration to not only enhance its forests to produce biomass energy and the role of forests as carbon sinks but to promote biodiversity as a natural capital for competitive advantage in the pursuit of green growth,” he said.