KUCHING: Building upon its existing policy and regulatory frameworks, Sarawak is in the final stages of completing its Carbon Plan, a key component aimed at facilitating carbon market investments in the state.
Premier Datuk Patinggi Tan Sri Abang Johari Tun Openg said the Carbon Plan will offer a detailed implementation framework designed to catalyse carbon trading and create a vibrant, well-regulated carbon market in Sarawak.
“Central to the Carbon Plan is its focus on establishing a well-regulated and investor-friendly carbon market that balances supply and demand, thereby incentivising emissions reductions and attracting green investments to Sarawak,” he said.
He said this in his keynote address during the Asia Carbon Conference (ACC) 2025 at Borneo Convention Centre Kuching (BCCK) here today.
He said the Carbon Plan is part of a broader roadmap underpinned by the Sarawak Net Zero Strategy and Carbon Plan, which collectively serve as strategic guides toward achieving net-zero carbon emissions by 2050.
“These achievements, reached in just two short years, are more than numbers – they reflect Sarawak’s deep commitment and clear ability to innovate and deliver.
“But our journey is far from over. In fact, it is only just beginning,” he added.
He also said that the Sarawak Net Zero Strategy outlines strategic pathways for decarbonising key emitting sectors while setting realistic emissions reduction targets, and includes efforts to decouple economic growth from carbon emissions and ensure accountability.
Abang Johari also highlighted Sarawak’s continued push in forest carbon initiatives through nature-based solutions.
“To date, Sarawak has issued seven permits related to forestry carbon studies and granted one licence for nature-based projects.
“Furthermore, six permits are being processed.
“And furthermore, we are actively reviewing the statutory fee structure for carbon projects to enhance investor interest and improve investability, ensuring that Sarawak remains an attractive destination for carbon market investments,” he said.
Additionally, Abang Johari said Sarawak is finalising its Carbon Levy framework, with support from the World Bank, to price carbon emissions accurately and encourage responsible environmental practices.
He also welcomed the recent global developments under the United Nations’ Article 6 of the Paris Agreement, particularly the adoption of new standards for baseline methodologies and leakage accounting.
“These international standards will boost the credibility of global carbon credits and support Sarawak’s participation in the global carbon market,” he said, adding that Sarawak is committed towards aligning with these frameworks to ensure transparency and verifiability.
Looking ahead, Abang Johari affirmed that Sarawak pledges to publish a comprehensive greenhouse gas (GHG) inventory report by 2027 to track emissions against its carbon budget.
“This is a pivotal step in ensuring our contributions to global climate action are not only impactful but also measurable,” he said.
