Malaysia to launch 1st local carbon credit auction in July

Malaysia’s Bursa Carbon Exchange (BCX) will conduct an auction on July 25 for the first Malaysian carbon credits generated from the Kuamut Rainforest Conservation Project, covering 83,381 hectares in Sabah, stock exchange operator Bursa Malaysia said on Monday, cited by Reuters.

The auction signifies BCX’s expansion to include local carbon credits alongside global ones. Bursa Malaysia’s CEO stated that the offering demonstrates Malaysia’s commitment to climate action, highlighting the nation’s environmental leadership.

BCX, launched in December 2022 as the world’s first Shariah-compliant carbon exchange, aims to boost transparency and facilitate carbon credit purchases for emissions offsetting.