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The Taskforce on Inequality and Social-related Financial Disclosure (TISFD) is a global initiative allowing businesses to identify, analyze, and report on their inequality and social-related risks, opportunities, and impacts.
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.
BANGKOK: Thailand is set to be Southeast Asia’s second country after Singapore to tax carbon emissions, expected to be introduced by next year.
Investment, Trade and Industry Deputy Minister Liew Chin Tong said Malaysia will have to start implementing carbon pricing to facilitate carbon trading and look into carbon taxing as the European Union prepares to commence its Carbon Border Adjustment Mechanism in 2026.
SINGAPORE - Singapore is offering refiners and petrochemical companies rebates of up to 76 per cent for its planned carbon tax for 2024 and 2025 to help them ease cost strains and remain competitive versus rivals elsewhere, four sources familiar with the matter said.
The tax concessions will provide a significant buffer for refiners’ profit margins amid growing competition with newer plants in China and the Middle East.
Larry Bradley, Global Head of Audit at KPMG, said:
“Getting ready for ESG assurance is a journey – and companies are finding that, the further they get in that journey, the more there is to do and learn. The goal-line is continually evolving. That is why progress may appear slow, even though many companies have truly been taking significant steps. This effort will pay off – Boards are increasing their focus on it and Leaders are reporting a growing range of benefits as the discipline involved in getting ready for ESG assurance permeates across systems, processes, controls and governance.”
Bursa Carbon Exchange has successfully carried out its inaugural auction of renewable energy certificates (RECs) which saw 15 buyers from various industries purchasing a total of 268,800 Hydropower Renewable Energy Certificates from vintage year 2024 (HRECv24) Contracts.
The IFRS Foundation’s International Sustainability Standards Board (ISSB) announced today a series of moves aimed at harmonizing sustainability reporting requirements for companies, with a focus on areas including disclosure of corporate climate transition plans and the measurement of greenhouse gas (GHG) emissions across the value chain.
As part of the country’s aspiration to shift towards a lower carbon economy, the Voluntary Carbon market (VCM) provides opportunities to develop both nature and technology-based Carbon Projects in Malaysia by unlocking private financing to support our climate goals. To encourage participation, a further tax deduction for companies that incur expenses on Measurement, Reporting and Verification (MRV) and activities related to the development of Carbon Projects were announced by the Honourable Prime Minister of Malaysia on 13th October 2023, during the tabling of the Budget 2024.
Malaysia government has agreed to speed up the implementation of the New Industrial Master Plan (NIMP), the National Energy Transition Roadmap (NETR) and the Hydrogen Economy and Technology Roadmap (HETR) ) to achieve net zero carbon emissions by 2050.
Malaysia ranks the highest among 109 countries in consuming microplastics, at an average of 502.3mg of microplastics daily per capita.
China announced plans on Wednesday to better measure the carbon content of its products - a key step in reaching its own climate goals and meeting tougher carbon standards overseas.
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Emmanuel Faber, Chair of the ISSB, said:
“With a record of success in driving the adoption of disclosure frameworks, CDP is an established, trusted tool that supports companies on their path to ISSB compliance. Our partnership will make life easier for companies to disclose relevant data to their stakeholders and will critically accelerate rapid global uptake of IFRS S2 and the availability of information so urgently needed by investors.”
A World Bank report reveals that countries with carbon pricing mechanisms generated a record $104 billion in revenues last year. Over half of the funds were directed towards climate and nature-related programs.
The Malaysia Forest Fund (MFF) on Monday launched its Forest Conservation Certificate (FCC), which is a non-market mechanism to channel funds from the private sector to support forest conservation projects in the country.
What are El Niño and La Nina, and how do these climate patterns impact different parts of the world? Does climate change influence them? We explain.
Datuk Hamzah Hussin, CEO of the Sustainable Energy Development Authority (Seda): When we talk about renewable energy, we cannot talk about solar alone.
KUALA LUMPUR: Bursa Carbon Exchange (BCX) will host an auction of its first Malaysian carbon credits from the Kuamut rainforest conservation project on June 25,
KOTA KINABALU: Sabah is at a critical juncture in its development journey, with Environment, Social, and Corporate Governance (ESG) principles at its core. State Chief Minister Datuk Seri Hajiji Noor emphasized the government's dedication to enhancing environmental stewardship, social well-being, and governance structures to ensure a resilient and prosperous future.
This deadly heat wave has caused heatstroke deaths, school closures, and severe water shortages.
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