29-05-2025
Sarawak finalises Carbon Plan to boost green investments, says Premier
Abang Johari arrives at the Asia Carbon Conference 2025 in BCCK.
KUCHING (May 29): Sarawak is stepping up its climate agenda with the finalisation of a state-level Carbon Plan, built upon Sarawak's existing policy and regulatory framework, said Premier Datuk Patinggi Tan Sri Abang Johari Tun Openg.
The plan is aimed at boosting carbon market investments and reinforcing its commitment to environmental sustainability will create a comprehensive roadmap for catalysing a vibrant carbon trading ecosystem.
'The Carbon Plan is pivotal to offer a detailed implementation framework designed to catalyse carbon trading and foster a vibrant carbon market.
'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 during the Asia Carbon Conference 2025 at the Borneo Convention Centre Kuching (BCCK) today.
He reaffirmed the state's proactive stance in championing nature-based climate solutions and to date, Sarawak has issued seven permits for forestry carbon studies and approved one licence for a nature-based project, with another six permits currently under processing.
To further encourage investment in carbon initiatives, the state is reviewing its statutory fee structure for carbon projects to enhance investor appeal and improve project viability.
'In addition, we are finalising our Carbon Levy framework, leveraging technical expertise from the World Bank to accurately price carbon emissions and encourage responsible environmental practices,' he said.
Abang Johari also welcomed recent international developments under the UN Carbon Market (Article 6 of the Paris Agreement), saying that the agreement on rules for credible climate project crediting marks an important step for global climate governance.
According to him, the adoption of standards for baseline methodologies and leakage accounting will enhance the integrity and credibility of carbon credits on a global scale.
'This is precisely the kind of international framework that will bolster Sarawak's efforts and allow us to participate more effectively in the global carbon market,' he said.
Looking ahead, he said Sarawak is committed to aligning its initiatives with international standards and improving transparency and verifiability.
He also pledged that by 2027, the state will publish a comprehensive greenhouse gas inventory report to track emissions in line with its carbon budget.
'Sarawak is determined to play a meaningful role in global climate action,' he said.
The Asia Carbon Conference 2025, hosted in Kuching, has drawn regional and international stakeholders focused on advancing carbon markets, climate finance, and sustainable development in Asia. abang johari Carbon Plan green investment
