- Auction on Malaysia Nature-based Carbon Credits Plus (MNC+) Contracts was successfully cleared at RM50 per Contract;
- This auction represents first Malaysian nature-based carbon credits from the Kuamut Rainforest Conservation Project, admitted on BCX;
- Timely call for Malaysia to consider implementing a compliance carbon market to accelerate domestic carbon projects development.
Bursa Malaysia Berhad (“Bursa Malaysia” or the “Exchange”) announced that its subsidiary, Bursa Carbon Exchange (“BCX”), has carried out its first Malaysian Carbon Credit auction today with carbon credits from the Kuamut Rainforest Conservation Project in Sabah (“Kuamut Project”). This milestone represents a crucial step in admitting the first Malaysian natured-based carbon project onto the BCX, thereby showcasing Malaysia’s capacity to develop its own carbon projects complying to international standards. With this auction, it also establishes a benchmark price for voluntary carbon credits for Malaysian nature-based carbon projects.
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