: A non-market-based mechanism, the Forest Conservation Certificate , was introduced by the government today to finance forest conservation activities and sustainable environmental care.
“While carbon projects are highly dependent on large areas to produce viable carbon returns, FCC can be used on smaller sized areas, with tailored activities that can be carried out in a shorter period. Commenting further, Nik Nazmi said the FCC emphasises transparency through practical processes and accountability of all parties involved, starting with scheme owners, project implementers, fund contributors, fund managers and the verification body.
He said the MoF also approved RM5 million in the Forest Carbon Project Development Fund to the MFF this year to support the building of capacity and technical knowledge and pre-development activities of forest carbon projects such as feasibility studies, identification of potential project areas, baseline setting and implementation of pioneer projects.