Petronas, TNB eager to provide carbon credit

PETALING JAYA: Petroliam Nasional Bhd (Petronas), Tenaga Nasional Bhd (TNB) and different public-listed firms (PLCs) have specific curiosity to provide credit for the deliberate Voluntary Carbon Market (VCM).

Bursa Malaysia chief government officer Datuk Muhamad Umar Swift stated along with creating the carbon trade, it was additionally searching for events to provide the carbon credit.

He stated VCM will assist Malaysian firms to stay aggressive within the nation’s exporting markets.

As well as, it’s going to present a mechanism for Malaysian firms to offset their carbon obligations in export international locations, Muhamad Umar stated this throughout a session on “Company Sustainability & Setting, Social and Governance (ESG) Investing”, organized by the Faculty of Economics, Finance and Banking, Universiti Utara Malaysia, Bernama reported.

Malaysia’s third-largest buying and selling companion, the European Union (EU), is searching for to impose a levy on imported carbon-intensive merchandise.

Consequently, Malaysian exporters could should pay a tax with the intention to promote their merchandise within the EU market, which is the place the VCM might assist to neutralize the impression, he stated.

By attaining carbon neutrality of their merchandise, exporters can ship their merchandise to the EU seamlessly, he added.

”We needed to have a look at how we will deal with the risk and alternative,” Muhamad Umar stated.

On ESG, he stated Bursa Malaysia has issued a public session doc to hunt suggestions on the necessary disclosure of assorted ESG metrics.

“This may make it simpler for traders to know what firms are doing to satisfy their ESG necessities,” he stated.

Muhamad Umar stated the Covid-19 pandemic has put ESG on the roadmap of many firms.

At current, there have been 79 PLCs within the FTSE4Good Bursa Malaysia Shariah Index, which was launched in July 2021 to cater to investor demand for ESG and syariah-compliant index options.


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