The Malaysia Carbon Market Association (MCMA) was officially launched on August 8 at the Malaysia Carbon Market Forum 2024, organized by Bursa Carbon Exchange. The event, held at the Ministry of Natural Resources and Environmental Sustainability in Kuala Lumpur, was officiated by Datuk Dr. Ching Thoo a/l Kim, the Ministry’s Secretary-General.
The MCMA aims to enhance accessibility to Malaysia’s carbon markets and was supported by nine founding members, including major corporations including major corporations such as Bornion Timber Sdn Bhd, Bursa Malaysia Berhad, Cenergi SEA Berhad, EeHSSE Consulting Sdn Bhd, Iskandar Investment Berhad (IIB), Petroliam Nasional Berhad (PETRONAS), Sarawak Energy Berhad, SD Guthrie Berhad, and Yinson Holdings Berhad (Yinson).
The MCMA received RM190,000 in seed funding from its founding members to support initiatives such as talent development and policy creation. The association will focus on promoting a voluntary carbon market, developing national carbon market policies, and fostering collaborations. It also aims to contribute to the ASEAN Common Carbon Framework (ACCF).
Dr. Renard Siew, President of MCMA, and Mr. Lim Chern Yuan, Chairman of the ASEAN Carbon Market Working Group, emphasized the importance of the MCMA in developing a robust carbon market in Malaysia and ASEAN. The forum’s theme, “Empowering Climate Actions through Carbon Markets,” featured discussions on current trends and challenges in the voluntary carbon market.
