KOTA KINABALU: Malaysia’s inaugural carbon credit auction was held on Thursday (July 25) through the Bursa Malaysia Board.
“I don’t think we can share how much it (the proceeds from the auction) is at the moment. It is still too early to say. It will be revealed later. Of course, whatever proceeds will be shared accordingly based on the agreement,” Sabah Forestry Department chief conservator of forests, Datuk Frederick Kugan
He said this after launching the Sabah Biodiversity Integrated Information System (SABIIS) and the ISABIIS mobile application here on Friday (July 26).
He added that since the forest is a state matter, the Sabah government would also get its share.
Bursa Malaysia Bhd’s subsidiary, Bursa Carbon Exchange (BCX), said in a statement that the auction attracted participation from businesses and organisations.
The domestic forest protection and regeneration project auction was cleared at RM50 per contract.
