KOTA KINABALU: Sabah's potential to generate revenue from carbon credits must be developed through transparent governance, fair market competition and proper accountability, said Tanjong Papat assemblyman Alex Thien (pic).
Responding to recent remarks by Universiti Putra Malaysia Professor Datuk Dr H'ng Paik San on the potential eligibility of Sabah's wetlands for carbon credits, Thien said carbon trading could provide a valuable new revenue stream while supporting environmental conservation.
He said Sabah is blessed with natural assets like vast forests, wetlands and rich biodiversity that have significant environmental and economic value, but their monetisation must be managed carefully to protect the state's long-term interests.
He cautioned against allowing carbon trading to become another monopoly, where exclusive commercial rights are concentrated in the hands of a few companies or individuals.
"Sabah should establish an open, transparent and competitive carbon market, allowing qualified investors and project developers to participate under clear regulations," said Thien.
He said fair competition was essential to ensure Sabah receives the best possible value for its carbon resources.
"Any award of commercial rights involving state-owned resources should be conducted through transparent and competitive processes, rather than opaque arrangements or lengthy exclusive agreements," he said.
Thien called for proper documentation, accurate and systemised accounting on how many credits are issued, their selling prices, the commissions and fees involved, and the actual revenue received by the state, internationally recognised carbon verification standards and independent financial audits.
"The public deserves to know who benefits from these transactions and whether Sabah is receiving fair value for its natural resources," he said.
He further emphasised that carbon trading should not merely become a revenue-generating exercise but also for portions of the proceeds to be reinvested into forest and wetland conservation, ecological restoration and long-term environmental management.
"At the same time, local communities, Indigenous rights holders and other legitimate stakeholders must receive fair and tangible benefits, particularly those directly involved in protecting these natural resources," said Thien.
He urged the state government to ensure that Sabah's carbon governance framework provides clear mechanisms for competitive project selection, public disclosure, independent auditing and equitable revenue distribution.
"Our natural resources are public assets. Their commercial value must translate into environmental protection, fair returns to Sabah and meaningful benefits for the people, not monopolies or private profiteering," he stressed.
