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Daily Express
29-07-2025
- Business
- Daily Express
Climate enactment opens doors to green investors in Sabah
Published on: Tuesday, July 29, 2025 Published on: Tue, Jul 29, 2025 Text Size: Masidi greeted by Borneo Rhino Alliance Executive Director John Payne. Accompanying Masidi was KSI Strategic Institute for Asia Pacific Chairman Tan Sri Majid Khan. - Pic by CMD KOTA KINABALU: The newly-passed Climate Change and Carbon Governance Enactment 2025 has positioned Sabah to attract regional investment in the growing carbon market, said Chief Minister Datuk Seri Hajiji Noor. In a speech delivered by State Finance Minister Datuk Seri Masidi Manjun at the Asean Sustainable Forestry Summit 2025, Hajiji said clear legislation gives investors confidence, while regional cooperation is key to long-term growth. He stressed the need for Asean to develop common standards, align regulations, and recognise carbon credits across borders to avoid fragmented systems that discourage investment. The Enactment also establishes the Sabah Climate Action Council, a Climate Fund, and an emissions inventory, while affirming carbon rights under state jurisdiction and introducing a clear structure for project approvals and trading. Hajiji said Sabah's forests now absorb more carbon than the state emits, contributing about 36 per cent of Malaysia's total carbon sequestration—an environmental achievement and economic asset. He also highlighted Sabah's Forest Plantation Development Action Plan, aimed at rehabilitating 400,000 hectares over 15 years and creating 40,000 jobs, with FMU licence holders urged to stay committed to the plan. Sabah is also leveraging its strengths in timber and palm oil to attract downstream investment, with Hajiji calling for long-term partnerships to build a resilient, green economy rooted in sustainable forestry and carbon governance. * Follow us on our official WhatsApp channel and Telegram for breaking news alerts and key updates! * Do you have access to the Daily Express e-paper and online exclusive news? Check out subscription plans available. Stay up-to-date by following Daily Express's Telegram channel. Daily Express Malaysia
New Straits Times
29-07-2025
- Business
- New Straits Times
Sabah puts forestry, climate at heart of economic strategy
KOTA KINABALU: Forestry and climate are at the heart of Sabah's economic strategy, with sustainability viewed as key to creating jobs, driving growth, and attracting investment, said Chief Minister Datuk Seri Hajiji Noor. "We are no longer treating sustainability as optional. It is part of how we create jobs, attract investment, and strengthen resilience. "Our forests and communities are already doing the hard work of carbon sequestration, biodiversity protection and sustainable use. But we cannot do this alone. "We welcome those who bring capital, expertise and long-term partnerships from Asean and beyond," he said, adding Sabah is stable, strategic, and serious about a green future. Finance Minister Datuk Seri Masidi Manjun delivered Hajiji's speech at the Asean Sustainable Forestry Summit 2025 today. With clear laws, strong institutions, and the Sabah Maju Jaya Roadmap to guide implementation, the chief minister said that Sabah is well-prepared for the carbon market. The passing of the Climate Change and Carbon Governance Enactment 2025 at the recent Sabah State Assembly sitting has opened up opportunities for Sabah to attract investors. "This legal foundation gives investors the certainty they need. But the bigger opportunity lies in Asean cooperation. "To grow in this space, we need a functioning regional carbon market. That means common standards, regulatory alignment, and mutual recognition of credits across borders. A fragmented system will only delay investment. "Sabah is ready to work with other Asean countries to push this agenda forward. Our forests are already doing their part. Now the frameworks must catch up," he said. As for forestry, Sabah has introduced a 15-year Forest Plantation Development Action Plan in 2022 to rehabilitate 400,000 hectares of degraded forest. The initiative is about securing a reliable timber supply, generating green jobs and strengthening rural economies. "Achieving the targets set out in this plan requires the continued commitment of Forest Management Unit (FMU) licence holders and working in close partnership with the Sabah Forestry Department," he said. In this regard, Hajiji urged all FMU licence holders to fulfil their obligations while the Sabah Forestry Department strengthens its role in tracking progress and ensuring that implementation stays on course. Once fully realised, the plan is projected to contribute more than RM11 billion to Sabah's GDP and create 40,000 jobs across the value chain, he said. Hajiji also said timber remained a strategic sector for Sabah, with timber royalties rising to RM171 million in 2024, marking an increase of RM16 million from the previous year. "Export volumes have also grown steadily, especially to Japan, the United States and Taiwan. Our target is clear: to reduce dependence on natural forests and scale up plantation-based, sustainable timber production," he said.
The Sun
29-07-2025
- Business
- The Sun
Sabah Carbon Governance Enactment boosts investment opportunities
KOTA KINABALU: The passing of the Climate Change and Carbon Governance Enactment 2025 at the Sabah State Assembly sitting on July 8 has opened up opportunities for Sabah to attract investors in the carbon market, said Chief Minister Datuk Seri Hajiji Noor. He said the enactment has led to the establishment of the Sabah Climate Action Council, a Climate Fund, a state-level emissions inventory, and a framework for benefit-sharing, particularly with indigenous communities, while legally affirming carbon rights as belonging to the state government. 'This legal foundation gives investors the certainty they need. But the bigger opportunity lies in ASEAN cooperation. To grow this space, we need a functioning regional carbon market with common standards, regulatory alignment, and mutual recognition of credits across borders. 'Sabah is ready to work with other ASEAN countries to push this agenda forward,' he said in a speech read by Sabah Finance Minister Datuk Seri Masidi Manjun at the ASEAN Sustainable Forestry Summit 2025 here today. Hajiji highlighted that Sabah is now a net sink jurisdiction -- absorbing more carbon than it emits --contributing approximately 36 per cent of Malaysia's total carbon sequestration, which he described as 'a strategic economic asset' in a carbon-constrained world. Sabah introduced the Forest Plantation Development Action Plan in 2022, a 15-year blueprint to rehabilitate 400,000 hectares of degraded forest, which is projected to contribute more than RM11 billion to Sabah's gross domestic product (GDP) and create 40,000 jobs across the value chain once fully realised. The Chief Minister also noted that timber remains a strategic sector for Sabah, with timber royalties rising to RM171 million in 2024, marking an increase of RM16 million from the previous year, while export volumes have grown steadily, especially to Japan, the United States and Taiwan. As the largest producer of crude palm oil (CPO) in Malaysia, accounting for over 25 per cent of the national output, he said Sabah is advancing its leadership in the palm oil industry by attracting investments in downstream processing, biofuels, and palm-based innovation. 'Forestry and climate are now at the core of economic strategy for Sabah, for Malaysia and ASEAN. We are no longer treating sustainability as optional. It is part of how we create jobs, attract investment, and strengthen resilience,' said Hajiji. The ASEAN Sustainable Forestry Summit, jointly organised by the KSI Strategic Institute for Asia Pacific and the ASEAN Economic Club, brings together policymakers, business leaders and environmental experts from across Southeast Asia to address the urgent need for sustainable forestry and climate resilience. - Bernama
