Deputy minister confirms climate change bill and carbon market policy to be tabled, aiming to regulate emissions and boost green economy
KUALA LUMPUR: The National Climate Change Bill is expected to be tabled for at least its first reading during the current parliamentary session.
Deputy Minister of Natural Resources and Environmental Sustainability Syed Ibrahim Syed Noh said this is a crucial step towards strengthening climate governance and supporting Malaysia’s carbon reduction commitments.
He said the ministry is also finalising the National Carbon Market Policy to establish an inclusive framework for carbon trading.
The policy and the Bill would provide the government with the legal mandate to regulate greenhouse gas emissions from domestic facilities.
“With this Bill and the carbon market policy in place, the government will have the legislative authority to regulate carbon trading activities,” he said during the Dewan Rakyat session.
He added this includes Internationally Transferred Mitigation Outcomes, 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.
This directly supports Malaysia’s Nationally Determined Contribution targets under the Paris Agreement.
Syed Ibrahim was responding to a question from Datuk Seri Hasni Mohammad regarding the Bill’s status and its potential to position Malaysia as a green economy hub.
He said the legislation would pave the way for the country to become a regional centre for carbon trading.
To ensure comprehensive implementation, the ministry has conducted at least 13 engagement sessions with state governments.
Public feedback was also invited through a consultation paper on the ministry’s website from October to December last year.
Further engagement sessions with industry players and non-governmental organisations will be held.
“The carbon market is a new field and remains under close study,” Syed Ibrahim added.
He said efforts to inform the industry and the public will be intensified to ensure the benefits are clearly understood.
