GENTING HIGHLANDS: The Federal Land Development Authority (FELDA) has proposed the establishment a national task force led by the Ministry of Natural Resources and Environmental Sustainability to ensure that Malaysia develops a robust, transparent, and internationally recognised framework for oil palm-based carbon credits.
FELDA chairman Datuk Seri Ahmad Shabery Cheek said the agency with its extensive footprint and smallholder ecosystem, can serve as the national pilot project to operationalise and validate this framework.
"I propose that the taskforce include the Malaysian Green Technology and Climate Change Corporation or Bursa Malaysia as the operator of the national carbon registry.
"The Malaysian Palm Oil Board would act as the technical authority and methodology developer for oil palm-based carbon standards, while SIRIM Bhd, through SIRIM QAS International, would function as the accredited certification and verification body,” he said.
Ahmad Shabery said this in his keynote address at the Second Unlocking Revenue and Sustainability Exploring Carbon Credit Opportunities at the Palm Oil Industry 2025 Conference here, today.
With the theme, "ASEAN Biomass in Focus”, the conference has established itself as a key platform connecting the carbon market with the palm oil sector and supporting a future for the industry to lead in sustainability, leveraging carbon credits to reduce environmental impact and drive innovation.
Ahmad Shabery also said that the first step in the palm oil sector’s carbon-credit journey is to recognise and register Malaysia’s own oil palm-based carbon credits under a national carbon registry.
"Once the carbon credits are recognised and traded, they will embody both pillars of Malaysia’s ASEAN 2025 vision: sustainability and inclusivity.
"They will represent the collective commitment of our government, industry, and smallholders to a greener, fairer, and more resilient future,” he said.
Meanwhile, Ahmad Shabery has also suggested introducing a carbon enhancement protocol into the Malaysian Sustainable Palm Oil (MSPO) certification, effectively transforming it into MSPO 3.0.
"This version (MSPO 3.0) will integrate carbon accounting and crediting mechanisms within the certification process,” he added. - Bernama
