KOTA BARU: Kelantan has signed a two-year contract with a company to audit carbon credits available in its permanent forest reserves.
Mentri Besar Datuk Ahmad Yakob said the agreement between the state government and Climate Protectors Sdn Bhd yesterday was significant.
He said Climate Protectors will contribute a sum of RM10mil within 24 months to the state.
Climate Protectors is a company situated in Kuala Lumpur and specialises in renewable & sustainable Energy (such as Solar, Hydro, Bio-Mass and Carbon Credit) with its main focus on Clean and Green Technology.
Ahmad said the firm will be rewarded with a 30-year concession to work on 360,000ha of permanent forest reserve to audit its carbon emissions.
Under the programme – known as “Reducing Emissions From Deforestation and Forest Degradation” (REDD) – the company will first audit the carbon credits available in the approved areas and then trade it at the international carbon credit stock exchange.
Ahmad said the state government will take 55% of the profits with 45% going to the company.
“The Kelantan government is always concerned about the forest and this is proof that we will protect the forest for our future generations,’’ he added.