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Tag: #NRECC

  • Bursa Malaysia Takes a Significant Step Towards Sustainability with VCM Handbook Release

    The inaugural Bursa Malaysia Carbon Market Forum 2023, aligned with IGEM 2023, featured key insights and discussions on Malaysia’s efforts in establishing and promoting the Voluntary Carbon Market (VCM). YB Nik Nazmi Nik Ahmad, Minister of Natural Resources, Environment and Climate Change (NRECC), was present to engage in this significant event.

    The VCM Handbook is a collaborative effort between Bursa Malaysia Berhad (“Bursa Malaysia” or the “Exchange”) and the Malaysian Green Technology and Climate Change Corporation (“MGTC”), which was initiated through a memorandum of collaboration (“MOC”) signed on 20 February 2023. The VCM Handbook was developed in consultation with NRECC and various ecosystem participants.

    As Malaysia shifts towards becoming a lower carbon economy, the VCM Handbook is a relevant guide designed to assist entities keen on participating in carbon market project development and Malaysia’s voluntary carbon market. The handbook defines the roles and functions of key entities in Malaysia’s carbon market operations, serving as a reference point for market players.

    “We are delighted to complete the VCM Handbook within just six months of the MOC signing, and this demonstrates effective collaboration in fulfilling a need to nurture the development of carbon projects in Malaysia,” said Datuk Muhamad Umar Swift, Chief Executive Officer of Bursa Malaysia.

    “With the increasing prominence on carbon offsets and carbon markets globally, it is imperative that Malaysia acts on the nation’s untapped potential, by developing its VCM ecosystem and implementing high-quality carbon projects. This VCM Handbook is a critical step in ensuring Malaysia’s VCM can truly support the country’s net zero journey,” added Datuk Umar.

    “The VCM Handbook will be a valuable resource to facilitate carbon offset project implementation in Malaysia, where the carbon credit generated will be used by other corporations to meet their net zero targets. The VCM Handbook provides essential information on how it works, key concepts, standard methodologies, and case studies,” shared Ts. Shamsul Bahar Mohd Nor, Group Chief Executive Officer of MGTC.

    He added, “MGTC is honoured to collaborate with bursa Malaysia in developing it. We thank the numerous stakeholders, including federal ministries, state governments, relevant government agencies, carbon consultants, project developers, as well as validation and verification bodies, for their invaluable contributions. In addition to the VCM Handbook, we are pleased to announce the launch of a VCM Directory, another necessary tool to scale up the emerging Malaysia’s carbon credit supply.”

    Datuk Umar also shared plans to promote both the VCM Handbook and VCM Directory at the Malaysia Pavilion during the 2023 UN Climate Change Conference (UNFCCC COP 28) in Dubai later this year. “Our goal is to attract international project developers and investors to participate in the development of high-quality carbon projects in Malaysia, and facilitate the transfer of knowledge, skills and capital needed to rapidly scale up carbon initiatives in the country. This effort is pivotal in supporting domestic corporates in their net zero and carbon neutrality goals, and for fulfilment of the role of the Bursa Carbon Exchange,” he explained.

    The inaugural Malaysia Carbon Market Forum is a half-day event organised by the Bursa Carbon Exchange. With knowledge sharing as the central focus, the forum offered participants the opportunity to learn from both local and leading global experts on global VCM trends and how to leverage and navigate carbon markets and carbon project development. Speakers at the forum included representatives from International Emissions Trading Association (IETA), Verra, Indonesia Carbon Trade Association (IDCTA), Vitol, Sylvera, Permian Global, Shell’s Nature Based Solutions business, EKI Energy Services Ltd., Viridios Capital Pty Ltd and BloombergNEF.

    A copy of the VCM Handbook can now be downloaded from https://bcx.bursamalaysia.com/index.php?rp=vcm_handbook. Companies operating in the carbon market industry can now register their services in the newly established VCM Directory, accessible via https://www.mgtc.gov.my/vcm/.

  • IGEM 2023: Driving Innovation Towards a Net Zero Carbon Footprint

    The 14th International Greentech & Eco Products Exhibition & Conference Malaysia (IGEM 2023) was officially launched today. It aims to achieve RM4 billion in business opportunities and attract 40,000 visitors from 40 countries. The event was inaugurated by YAB Dato’ Sri Haji Fadillah Haji Yusof, the Deputy Prime Minister, representing YAB Dato’ Seri Anwar Ibrahim, the Prime Minister of Malaysia. The ceremony was attended by cabinet ministers, ambassadors, international delegates, and other distinguished guests.

    Organised by the Ministry of Natural Resources, Environment and Climate Change (NRECC) and co-organised by the Malaysian Green Technology and Climate Change Corporation (MGTC), IGEM 2023, Southeast Asia leading trade event for green technologies and eco solutions, has an impressive track record of having delivered RM41 billion in business leads, over 530,000 visitors from over 112 countries since 2010.

    Referring to the Prime Minister’s speech YAB Dato’ Sri Haji Fadillah bin Haji Yusof said, “Transitioning to a net-zero world calls for nothing less than a complete transformation of how we produce, consume, and move about. A growing coalition of countries, cities, businesses, and other institutions are pledging to get to net-zero emissions. More than 70 countries have set a net-zero target.”

    “Without a doubt, IGEM 2023 plays a decisive leadership role in accelerating and delivering the region’s Net Zero and just energy transition agenda. There are enormous opportunities to steer us to sustainability while ensuring robust economic and social progress. Something that is exemplified in the Malaysia Madani way of life that my government is strongly advocating and adopting,” he added.

    During the opening ceremony, YAB Dato’ Sri Haji Fadillah bin Haji Yusof unveiled the much-awaited Hydrogen Economy and Technology Roadmap, to unlock the prospect of harnessing a new energy carrier and the knock-on economic effects it would bring. Additionally, Leader Energy signed a strategic partnership with BASF Stationary Energy Storage GmbH, to promote the development of long-duration energy storage projects in Southeast Asia, having already identified 8 LDES projects with a total estimated value of RM1.8 billion.

    YAB also witnessed the signing of a memorandum of understanding (MoU) among PMB Aluminium Sdn. Bhd., Sumitomo Corporation Asia & Oceania Pte. Ltd and Nandina Remanufacturing Pte. Ltd. to expand the use of raw materials derived from retiring aircraft such as airplanes and helicopters, aligning with their shared vision of growing the circular economy to drive sustainable manufacturing.

    Furthermore, during the opening ceremony, Tenaga Nasional Berhad unveiled the Malaysia Green Attribute Trading System, or mGATS, as a national marketplace for Malaysia Renewable Energy Certificates (mREC), as part of the Government’s efforts to further propel the RE sector.

    Delivering the welcoming remarks, Minister of Natural Resources, Environment and Climate Change, YB Nik Nazmi Nik Ahmad said, “Having had the opportunity yesterday to personally meet with some of the delegates, visit the exhibition floor and take part in some of the conference sessions, it is clear to me that IGEM’s role as one of ASEAN’s leading trade events for green tech and eco products remains as relevant today as it was when its doors first opened in 2010.”

    “The government’s energy transition intent under the National Energy Transition Roadmap augurs well with my Ministry’s current effort to decarbonise the power sector through accelerated deployment of RE capacity in our power installed capacity from the existing 25% to 70% in 2050,” he concluded.

    The exhibition floor is organised by the sub-themes of Empowering Cities, Electrifying Mobility, Decarbonising Energy, Accelerating Circularity and Conserving Biodiversity with leading corporations such as UOB, Cypark Resources Berhad, Polymateria Limited, Bio Eneco, Lenovo, Canadian Solar and Cradle Fund making a presence with their impressive booths. The exhibition also features pavilions for Austria and Canada.

    Some of the prominent Malaysian participants include the Ministry of Health (MOH), the Ministry of Science, Technology and Innovation (MOSTI) and the state of Sabah, to name just a few. A key highlight of IGEM this year is the AtoZero ASEAN Summit which is co-located and runs concurrently with the event. Powered by Gentari, the Summit convenes the who’s who from across the net zero value chain, including key decision makers and changemakers to comprehensively explore pathways, policies and business opportunities to drive the global net zero transition agenda.

    IGEM is hosting several conferences on topics such as climate change, low-carbon cities, science and innovation, hydrogen economy, waste management, circular economy, water, energy efficiency and the United Nations Sustainable Development Goals.

    IGEM is also featuring the much-in-demand business networking sessions organized by the Malaysian Investment Development Authority (MIDA), Malaysia External Trade Development Corporation (MATRADE) and MGTC.

    During the three-day event, numerous Memoranda of Understanding (MoUs) are being signed between Malaysian and international parties, reinforcing their commitment to collaborate in the race towards net zero.

    For further details on IGEM 2023, please visit www.igem.my.

  • Enhancing Public Understanding: Malaysia’s New Climate Action Simulator

    The Ministry of Natural Resources, Environment and Climate Change (NRECC), in partnership with the Malaysian Green Technology and Climate Change Corporation (MGTC), is pleased to announce the official launch of the Malaysia Climate Action Simulator (MCAS). YB Nik Nazmi Nik Ahmad, the Minister of NRECC, presided over the inauguration ceremony at the prestigious International Greentech & Eco Products Exhibition & Conference Malaysia (IGEM 2023), held from October 4th to 6th at the Kuala Lumpur Convention Centre.

    Funded by the UK Government’s International 2050 Calculator Programme and supported by esteemed technical partners, Mott MacDonald, Imperial College London, Ricardo, and CLIMACT, MCAS is a groundbreaking tool designed to empower users to simulate technically feasible low-carbon future scenarios up to the year 2050. It offers a dynamic visualisation of Malaysia’s carbon emission trajectory and facilitates a comprehensive exploration of diverse pathways to mitigate greenhouse gas (GHG) emissions across critical sectors, including energy, transport, building, industry, land use, and waste.

    MCAS is a versatile communication tool to increase public awareness about the critical role of technology, policy, and behaviour in reducing GHG emissions. Furthermore, it is a valuable reference tool for businesses transitioning towards green technology solutions. Featuring an interactive and user-friendly web interface, MCAS empowers users to simulate different behaviours, navigate technological options, select potential pathways, and identify sector-specific roles.

    It also offers a common language for discussion on climate change mitigation measures. It provides the means to plan and visualise decarbonisation pathways and make a comparative analysis. MGTC will actively engage potential users through events dedicated to introducing and demonstrating MCAS as an educational and awareness communication tool. This outreach will primarily target industry stakeholders, universities, research institutes, non-governmental organisations, and the public.

    GCEO of MGTC, Ts. Shamsul Bahar Mohd Nor, expressed enthusiasm about the future of MCAS, saying, “MGTC has strategic plans to collaborate with universities in developing educational modules centered around MCAS and integrating it into the university curriculum. Additionally, MCAS remains open for further research contributions, aiming to facilitate more informed and rational decisions on various pathways to mitigate GHG emissions in Malaysia.”

    Her Excellency Ailsa Terry CMG, British High Commissioner to Malaysia, welcomes the rebrand and launch of the Malaysia carbon pathway calculator – MCAS, and said, “The UK is working closely with international partners like Malaysia to address the global climate challenges. Since 2012, the UK has committed £6 millions of International Climate Finance to the international community to support the creation of their respective 2050 Calculators. So far, we have helped create 19 national and 6 regional Calculators which have been used to develop NDCs and action plans, raise awareness and inform long-term strategies.

    “The launch of MCAS is a culmination of our knowledge sharing and technical collaboration with Malaysia, and I am pleased that it plays a role in mitigating greenhouse gas emissions across key sectors in Malaysia. This is part of our ongoing ambitious partnership with Malaysia to address the shared challenge of climate change and energy transition.”

    Mott MacDonald’s 2050 Calculator Programme Country Manager in Malaysia, Danny Giam, who has overseen the development of MCAS said “Mott MacDonald is delighted and excited to see the launch of the Malaysia Carbon Calculator (MCAS) come to fruition. I am excited and look forward to seeing the tool being adopted by various stakeholders from different backgrounds in the near future. It will be an important enabler in Malaysia’s journey to achieve zero net emission by 2050.”

    To access the Malaysia Climate Action Simulator (MCAS) webtool and embark on the journey towards a sustainable, low-carbon future, please visit www.mcas.my.

  • Warisan Bumi yang Kaya: Mengenali Nilai Geodiversiti

    Warisan Bumi yang Kaya: Mengenali Nilai Geodiversiti

    Sambutan Hari Geodiversiti Antarabangsa merupakan acara tahunan yang disambut pada setiap 6 Oktober bagi meningkatkan kesedaran di kalangan masyarakat tentang kepentingan geodiversiti, iaitu kepelbagaian semulajadi geologi, dalam memastikan kesejahteraan dan kemakmuran semua ciptaan di planet ini.

    Geodiversiti ialah kepelbagaian unsur alam semula jadi yang terdiri dari sumber geologi iaitu batuan, mineral, fosil, tanah, sedimen, proses geologi semula jadi, landskap dan tanah yang mendasari serta mempengaruhi bentuk dan sifat landskap serta persekitaran kita.

    Semestinya kita amat menghargai kepelbagaian geologi yang tidak ternilai yang dianugerahkan oleh Tuhan kepada Malaysia. Geodiversiti adalah bukti kepada proses yang membentuk mukabumi kita selama berjuta tahun, justeru menghasilkan karya seni geologi yang unik.

    Keindahan Gunung Kinabalu, Sabah yang terbentuk pada 9-8 juta tahun yang lampau dan Formasi Machincang, Langkawi yang berusia 550-490juta tahun adalah antara contoh geodiversiti di Malaysia yang merupakan kebanggaan kita dan telah diiktiraf oleh dunia.

    Kementerian Sumber Asli, Perubahan Iklim dan Alam Sekitar Malaysia (NRECC) amat komited untuk melindungi geodiversiti negara dengan memastikan pengurusan sumber asli yang bertanggungjawab dan melaksanakan pelbagai inisiatif kearah pembangunan sumber asli yang mampan sejajar dengan Sustainable Development Goals, Pertubuhan Bangsa-Bangsa Bersatu, khususnya yang bertujuan untuk melindungi, memulihara dan mempromosikan penggunaan tanah yang lestari.

    Saya ingin mengucapkan terima kasih kepada semua pihak yang telah dengan gigih bekerja untuk pemuliharaan dan pendidikan geodiversiti. Sumbangan anda adalah berharga dalam memupuk pemahaman yang lebih mendalam tentang geodiversiti kita dan peri pentingnya dalam kehidupan kita.

    Akhir kata, mari kita bersama-sama berjanji untuk menghargai dan melindungi geodiversiti negara bagi memastikan bahawa generasi akan datang akan terus mendapat manfaat daripadanya. Semoga kita terus menjelajah, mengungkap, dan melindungi sumber geodiversiti Malaysia untuk generasi akan datang.

    Selamat Menyambut Hari Geodiversiti Antarabangsa Tahun 2023.

    Sekian, terima kasih.