KOTA KINABALU: Sabah’s carbon trade pilot project will have an audited report by year-end, says chief conservator of forests Datuk Frederick Kugan.
He said every step of the project needed proper planning and monitoring.
“So far, I have not heard about any challenges or issues faced in this pilot project.
"Be patient and we will have an audited report to present soon,” he told reporters when asked about the project after an event here on Friday (Oct 4).
Kugan said as reported, there was some success in the inaugural carbon credit auction on Bursa Malaysia in July.
ALSO READ: Sabah to sell carbon credits via Kuamut conservation plan
For now, the state's partners including Yayasan Sabah were in the process of transacting the carbon units, he said.
“Hopefully we will have an update by the end of this year,” he added.
Previously, it was reported that the auction would provide crucial financial support for important conservation projects in Sabah.
The Kuamut Rainforest Conservation Project, recognised internationally as one of the improved forest management projects, has been awarded a top rating by carbon rating agency BeZero Carbon.
Bursa Malaysia Bhd’s subsidiary Bursa Carbon Exchange (BCX) had said in a statement that its first auction attracted participation from businesses and organisations committed to reducing their environmental impact through several credible pathways, including offsetting hard-to-abate greenhouse gas emissions through carbon credits.
