Kenyataan Media
BURSA CARBON EXCHANGE JOINS GLOBAL EMISSIONS TRADING NETWORK VIA IETA
Bursa Malaysia Berhad (“Bursa Malaysia” or the “Exchange”) today announced its membership of the International Emissions Trading Association (“IETA”), a thought leader in carbon market mechanisms. This move is in line with the Exchange's commitment to develop Malaysia’s carbon market through its voluntary carbon market (“VCM”) - the Bursa Carbon Exchange (“BCX”) - and to strengthen institutional capacity in developing a vibrant VCM ecosystem.
Established in 1999, IETA
is a non-profit organisation that is a key global advocate for emissions
trading as an effective policy instrument for managing, mitigating and reducing
greenhouse gas emissions to promote market-based solutions for climate change. IETA
currently has nearly 300 member companies that include some of the
most respected and recognisable organisations in the financial, energy, industrial and materials, technology and legal
sectors. IETA members also include standards, registries and foundations, as
well as carbon-related service providers.
As a member of IETA, Bursa Malaysia will have access to the latest developments in climate policy and market design, direct contact with a global network of industry experts and stakeholders from various sectors who are actively engaged in the development of carbon markets and emissions trading systems, including key decision makers in the international carbon market. The network is crucial as Bursa Malaysia grows the Malaysian VCM and expands its offerings on BCX, the world’s first Shariah compliant carbon exchange.
Datuk Muhamad Umar Swift, Chief Executive Officer, Bursa Malaysia said, “Joining IETA is an important milestone for Bursa Malaysia. The association provides us with a platform and representation as we continue to gain insights on Article 6 of the Paris Agreement and various carbon compliance markets in preparation for a future where carbon markets will gain significance in driving countries’ Net Zero aspirations”. He added, “The recognition is important as we continue to drive the sustainability agenda among corporates in Malaysia”.
Launched on 9 December 2022, BCX offers a platform for corporates to trade carbon credits, enabling them to offset their carbon footprint through the purchase of carbon credits or sale of carbon credits generated from their decarbonising projects. In return, this will help to finance and drive the development of domestic GHG emissions reduction and removal solutions and projects.
“Through our membership, we look forward to engaging with like-minded organisations and contributing to the development of the global carbon market. We are able to do this by playing an active part at various roundtable discussions and by being part of the International Working Groups under IETA. All these are crucial steps towards nurturing our local VCM ecosystem,” added Datuk Muhamad Umar.
Companies interested to participate in BCX are encouraged to submit their application form, which is downloadable from https://bcx.bursamalaysia.com.