Bursa Malaysia Launches Voluntary Carbon Market Handbook

Malaysia’s Minister of Natural Resources, Environment and Climate Change (NRECC), YB Nik Nazmi Nik Ahmad has launched Malaysia’s Voluntary Carbon Market (VCM) Handbook.

The VCM Handbook is a collaborative effort between Bursa Malaysia Berhad (Bursa Malaysia) and the Malaysian Green Technology and Climate Change Corporation (MGTC), which was initiated through a memorandum of collaboration (MOC) signed on 20 February 2023.

As Malaysia shifts towards becoming a lower carbon economy, the VCM Handbook is a relevant guide designed to assist entities keen on participating in carbon market project development and Malaysia’s voluntary carbon market.

The handbook defines the roles and functions of key entities in Malaysia’s carbon market operations, serving as a reference point for market players. The VCM Handbook was developed in consultation with NRECC and various ecosystem participants.

“We are delighted to complete the VCM Handbook within just six months of the MOC signing, and this demonstrates effective collaboration in fulfilling a need to nurture the development of carbon projects in Malaysia,” said Datuk Muhamad Umar Swift, Chief Executive Officer of Bursa Malaysia.

“With the increasing prominence of carbon offsets and carbon markets globally, it is imperative that Malaysia acts on the nation’s untapped potential, by developing its VCM ecosystem and implementing high-quality carbon projects. This VCM Handbook is a critical step in ensuring Malaysia’s VCM can truly support the country’s net zero journey,” added Datuk Umar.