KUCHING: Sarawak will follow the national guideline on voluntary carbon market mechanisms and carbon account.
Deputy Minister of Energy and Environmental Sustainability of Sarawak, Dr Hazland Abang Hipni said the state government through the ministry itself ensured that corresponding adjustments, including by the federal government for any carbon credit units issued under the said rules that are traded internationally, were in accordance with the Paris Agreement.
“We will explore the carbon trading ecosystem in Asia and discuss how Sarawak can tap into this market,” he said in his remarks during the closing ceremony of Asia Carbon Conference 2023 (ACC2023) at Pullman Hotel here yesterday.
He added that not only the New Zealand Emissions Trading System (ETS) model was a good guideline, it also required businesses to measure and report the GHG emissions, and it would be a self-directed assessment.
During the last session of the conference, he explained on the seriousness of the state government in enabling Carbon Capture, Utilisation and Storage (CCUS) investment through clear policy and legislation and a structured process managed by companies such as Petroleum Sarawak Berhad (PETROS).
“We encourage every organisation that is serious about achieving your decarbonisation targets to explore utilising CCUS potential in Sarawak with PETROS,” he added.
Dr Hazland also said that the state government was shifting from 90 per cent fossil fuel to 70 per cent hydro and 11 per cent thermal.
“This is in line with the Post COVID-19 Development Strategy 2030 with six key economic sectors and seven key enablers which will ensure economic prosperity, environmental sustainability, and social inclusivity,” he added.
Meanwhile, he stated that ACC has been a great platform for discourse on the Asian carbon market with particular focus on the Voluntary Carbon Market (VCM) as well as CCUS and its global potential.
“This conference has provided valuable insights into the path towards a low-carbon future and Sarawak is well-positioned to take advantage of the opportunities presented,” he added.
