KUALA LUMPUR, Oct. 5 (Xinhua) -- Bursa Malaysia, the country's stock exchange, on Thursday launched the national voluntary carbon market (VCM) handbook to guide local professionals and stakeholders in generating carbon credits that adhere to international standards.
The handbook was launched at the inaugural Malaysia Carbon Market Forum with the exchange's chief executive officer Muhamad Umar Swift saying that as Malaysia shifts toward a lower carbon economy, the VCM handbook will assist entities keen on participating in carbon market project development and Malaysia's voluntary carbon market.
He explained the handbook defines the roles and functions of key entities in Malaysia's carbon market operations, serving as a reference point for market players.
"With the increasing prominence on 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," he said.
Nik Nazmi Nik Ahmad, minister of natural resources, environment and climate change, said in his keynote speech at the forum that VCMs can help host countries achieve their nationally determined contributions even if such sales are to corporate buyers outside of Malaysia.
The forum is a platform for industry leaders and experts to share insights and experiences on key topics on VCM, promoting a culture of knowledge-sharing and collaboration on both the local and international stage. ■
