THE national carbon policy, which aims, among others, to provide guidance on carbon trading at the state level, is expected to be ready for implementation this year, Natural Resources, Environment and Climate Change Minister Nik Nazmi Nik Ahmad said.

He said the Malaysia Climate Change Action Council (Mycac) meeting chaired by Prime Minister Anwar Ibrahim will be held this Friday where the latest status of the policy will be presented and the scope of legislation that needs to be implemented under the policy framework will be detailed.

“This meeting will also be attended by the menteris besar and the chief ministers. The ministry’s function at the federal level is to facilitate (for carbon trading activities) in the states involved, so we will prepare the policy this year.. and the basis will be presented this week in Mycac meeting,” he said.

Nik Nazmi, speaking in a press conference after paying a courtesy call to Sarawak Premier Abang Johari Openg at Wisma Bapa Malaysia in Kuching today, said based on the results of the discussion during Friday’s meeting, the government will also examine the law enforcement requirements for regulatory aspects and monetisation of carbon business.

“(Carbon trading) does not require any amendments to the law as it only involves legislation and policy,” he said, adding that his ministry actively held discussions related to carbon trading with the state governments since matters related to land for carbon storage are state matters.

On June 30, Deputy Prime Minister Fadillah Yusof said the government is studying a proposal to place carbon trading under the Plantation Industries and Commodities Ministry.

Fadillah, who is also plantation industries and commodities minister, said that currently all issues related to carbon are under the purview of the Natural Resources, Environment and Climate Change Ministry.

Earlier, Nik Nazmi and Abang Johari witnessed the handing over of eight River Corridor Rehabilitation Plan projects that had been fully completed by the Irrigation and Drainage Department to the Sarawak government.

The project, which costs RM63 million, involves river corridors in Batang Kayan in Lundu, Batang Balingian in Mukah, and Batang Sadong in Pekan Gedong and Serian.

The restoration of river banks were also conducted in Batang Sadong and Simunjan, as well as the reparation of retaining walls in Sungai Baram, Rumah Naing, Pekan Sabtu Oya and Betong.

“These projects also provide added value with the development of recreational areas for local residents and bring benefits to nearly 195,000 local residents,” said Nik Nazmi. – Bernama, July 10, 2023.