KUALA LUMPUR: Petroliam Nasional Bhd (Petronas) and the Terengganu state government, via the Terengganu Economic Planning Unit (UPEN), have signed a memorandum of understanding (MoU) to explore opportunities for the development of nature-based solutions (NbS) initiatives in the state.
In a statement, Petronas said under the MoU, both parties will collaborate to identify and assess potential sites across the state for nature-based carbon projects that meet internationally recognised certification standards.
"These projects are intended to generate high-quality carbon credits while delivering tangible benefits to local communities and supporting environmental conservation,” it said.
NbS comprises actions to reduce and remove greenhouse gas emissions through conserving, protecting, restoring and sustainably managing natural ecosystems, it said.
"Carbon credits generated through NbS are integral for Petronas in addressing residual and hard-to-abate emissions, complementing its ‘Net Zero Carbon Emissions by 2050 Pathway’,” it said.
The MoU was signed by Petronas senior general manager for nature and corporate sustainability Giulia Sartori and Terengganu state secretary Datuk Mohd Azmi Mohamad Daham.
Commenting on the collaboration, Sartori said Petronas looks forward to working closely with the state to advance climate-positive initiatives that create shared value.
"We are pleased to collaborate with the state of Terengganu in advancing nature-based solutions that strengthen climate resilience, enhance biodiversity and deliver meaningful benefits to local communities.
"This collaboration builds on Petronas’ long-standing presence in the state, and we look forward to delivering value for the state and supporting Malaysia’s overall climate ambitions together,” she said.
Echoing the statement, Mohd Azmi highlighted the role of Terengganu’s natural ecosystems and their potential to contribute to climate change mitigation.
"Terengganu is blessed with diverse natural ecosystems that hold significant potential for nature-based solutions.
"Through this collaboration with Petronas, we aim to contribute to Malaysia’s efforts to reduce carbon emissions while ensuring environmental conservation brings lasting benefits to the people of Terengganu,” he added. - Bernama
