Malaysia to Integrate Nature-Based Solutions into Carbon Market Framework
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Loading... - Haojin Toh
- 09 Oct 2024
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Malaysia is advancing its efforts to incorporate nature-based solutions into its carbon market framework through the development of the National Carbon Crediting System under the Forest Carbon Offset (FCO) programme. This initiative aims to enhance the country's role in environmental protection and climate mitigation while generating sustainable economic value.
Natural Resources and Environmental Sustainability Minister Nik Nazmi Nik Ahmad announced the plan, emphasizing the government's commitment to integrating nature-based solutions. The FCO programme will employ methodologies such as Reducing Emissions from Deforestation and Forest Degradation, Improved Forest Management, and Afforestation, Reforestation, and Revegetation (ARR). These strategies position Malaysia to become a leader in utilizing forest-based carbon credits.
Speaking at the ASEAN Carbon Forum 2024, Nik Nazmi underscored the significance of nature-based solutions in tackling climate challenges and fostering the growth of the carbon credit market. He stated, "The National Carbon Crediting System will not only aid in environmental protection but also create sustainable economic opportunities, aligning with global net zero ambitions."
This initiative reflects Malaysia's dedication to addressing climate change and promoting sustainable development through innovative approaches in the carbon market.
