KUALA LUMPUR: The National Climate Change Bill is expected to be tabled for first reading in the current Parliament session to strengthen climate change governance and support Malaysia’s carbon reduction commitments.
Deputy Natural Resources and Environmental Sustainability (NRES) Minister Syed Ibrahim Syed Noh, who disclosed this, said the ministry was finalising the National Carbon Market Policy to create an inclusive framework for carbon trading, in tandem with the drafting of the Bill.
He said the policy and Bill would provide the government with the legal mandate to regulate greenhouse gas (GHG) emissions from domestic facilities and strengthen market instruments and governance, aligned with Malaysia’s commitments under Article 6 of the Paris Agreement.
“With this Bill, the government will have the legislative authority to regulate carbon trading activities, including Internationally Transferred Mitigation Outcomes (ITMO), which will contribute towards the nation’s climate change mitigation targets.
“The Bill will (also) enhance transparency and accountability through carbon emission measurement and reporting mechanisms, directly supporting the Nationally Determined Contribution (NDC) targets,” he told Parliament yesterday, Bernama reported.
He said the Bill would pave the way for the country to become a regional centre for carbon trading and contribute to sustainable green economic growth.
He said to ensure comprehensive implementation, the ministry conducted 13 engagement sessions with state governments and invited public feedback through a consultation paper on the Bill.
