DARO: Sarawak is pushing for a regulatory framework to facilitate carbon trading and carbon dioxide storage, with the state already taking the lead in developing legislation to support the emerging carbon economy.
Premier Datuk Patinggi Tan Sri Abang Johari Tun Openg said the proposed framework would enable carbon emissions purchased by countries such as Japan to be transported and stored in Sarawak through the use of depleted offshore oil wells.
“Sarawak already has its own legislation while the federal government does not yet have one. We are ahead,” he added.
“I have informed the Prime Minister Datuk Seri Anwar Ibrahim about the need for a regulatory framework for carbon, particularly carbon purchased by countries such as Japan, to be stored in Sarawak under a proper legal framework.”
Abang Johari said this during the Leaders’ Meet-the-People Programme for Daro State Constituency (N43) here today.
He said the stored carbon could be injected into offshore wells previously used for oil extraction but no longer operational due to depleted reserves.
The development of carbon trading would create a new economic opportunity for Sarawak, with revenue generated from the sector potentially becoming an additional income stream for the state.
“Mangroves and peatland areas can store carbon, and carbon has value through carbon trading. If implemented comprehensively, the income from carbon trading will increase,” he added.
“When this becomes one of the state’s income streams, we can return the benefits to the people by developing what they need.”
Abang Johari also said the carbon economy represented a new economic strategy for Sarawak, adding that the state was positioning itself at the forefront of future industries.
“It appears that we are also the first to move in this area. Others have yet to establish such a framework. The Prime Minister has taken note of my proposal and this will become the basis for a framework that enables carbon trading,” he shared.
He added that Sarawak’s continued progress would depend on maintaining unity and political stability.
“What we need is unity. Our politics must have direction, not politics that creates uncertainty but politics with a clear purpose to develop our future,” he concluded.
