Companies, financial institutions urged to partake in VCM

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KUALA LUMPUR: Natural Resources, Environment and Climate Change (NRECC) Minister Nik Nazmi Nik Ahmad today urged companies and financial institutions ...

: Natural Resources, Environment and Climate Change Minister Nik Nazmi Nik Ahmad today urged companies and financial institutions to participate in the voluntary carbon markets , one of the government’s key initiatives to address climate change agenda.

“Malaysia has commenced initiatives on developing VCM to support financing for projects and solutions to reduce, remove or avoid greenhouse gas emissions,” he said in his speech at the Joint Committee on Climate Change Conference ‘Journey to Zero’, here today. He said that as a signatory to the Paris Agreement, Malaysia is committed to reducing the intensity of GHG emissions across the economy by 45 per cent which is based on gross domestic product in 2030 compared to the 2005 level as its Nationally Determined Contributions .

 

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