Sarawak Premier Abang Johari Openg confirmed that the Malaysian state will launch its initial regulated forest carbon project during the first quarter of next year.
Abang Johari said the initiative demonstrated the Sarawak government’s commitment to practice sustainable management and conservation in the forestry sector while creating economic opportunities, according to a report from the Borneo Times.
“Under the forest carbon activities concept, after decades of logging for merchantable timbers, Sarawak will pursue a new direction in forestry management of preserving our trees, planting more trees, restoring and rejuvenating our over-logged areas or degraded forests,” Abang Johari said.
He also said that the state government will closely monitor its forest ecosystem and carbon trading market.
“This initiative will be driven by the private sector entities with the technological know-how and financial resources to ensure the success and sustainability of these projects,” the state premier said.
Abang Johari added that the state cabinet will ensure the rules and regulations will soon be implemented saying: “Rules will soon be made by the state Cabinet pursuant to these amendments to regulate forest carbon activities, including afforestation and reforestation, and the storage of carbon dioxide and other greenhouse gases (GHG) in both the offshore and onshore areas of Sarawak.”
“These activities, which would be undertaken in accordance with protocols and the Clean Development Mechanism formulated under the Kyoto and Paris Agreements on Climate Change, will yield tradable carbon credits and provide a new source of revenue for Sarawak,” he added.