Malaysia's private sector launches carbon market alliance ahead of possible introduction of carbon tax in Budget 2025

Quick Summary:

The private sector initiative is taking shape as Malaysia's government prepares to revise its Nationally Determined Contributions.

Members include national oil company Petronas, as well as timber and palm oil firms.

Singapore also recently lanched its own carbon market alliance, although its current priority is to increase the supply of carbon credits from countries with which it has agreements on Article 6 of the Paris Agreement.

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Article Details

Author / Journalist: Samantha Ho

Category: EconomyBusiness

Markets: SingaporeAzerbaijanIndonesiaMalaysiaThailand

Topics: Carbon trading COP29 Timber Oil Carbon credits Carbon offsetting ASEAN

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-08-08 @ 11:22:00 (14 hours ago)

News Timezone: GMT +8:00

News Source URL: eco-business.com

Language: English

Article Length: 959 words

Reading Time: 6 minutes read

Sentences: 34 lines

Sentence Length: 29 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Eco-Business

News ID: 21983840

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