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Bursa to auction first Malaysian carbon credits from rainforest conservation project

Bursa to auction first Malaysian carbon credits from rainforest conservation project

Malaysia Nature-based Carbon Credits Plus (MNC+) marks a significant achievement for BCX, expanding its product range to include local carbon credits derived from a domestic forestry initiative. This initiative, involving collaboration between the Sabah Forestry Department, Rakyat Berjaya Sdn Bhd, Yayasan Sabah, and Permian Malaysia, the project lead.

Bursa Malaysia CEO Datuk Muhamad Umar Swift highlighted the introduction of carbon credits from the Kuamut project as a milestone, demonstrating Malaysia's commitment to climate action and the importance of the voluntary carbon market (VCM) in the nation's climate agenda. The project, which achieved its first issuance of Verified Carbon Units (VCUs) in March 2024, is expected to reduce approximately 800,000 tonnes of carbon dioxide equivalent annually. It also provides significant benefits for climate, community, and biodiversity, contributing to 12 of the 17 UN Sustainable Development Goals.

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