ASEAN Carbon Credits Meeting

ASEAN BAC Malaysia held a meeting with Mr Faizal Mohd Yusof, Senior Director (Industry Development Division, Ministry of Investment, Trade and Industry (MITI) this week to discuss the prospects and challenges of the ASEAN Carbon Market, represented by Executive Director Ms Jukhee Hong, Dr Renard Siew, Group Head of Corporate Sustainability of Yinson and Dr. Wei-nee Chen, Head of Carbon Market, Group Sustainability of Bursa Malaysia.

This was a timely discussion with rising interest in ASEAN to generate high-quality carbon credits recognized by international standards. The ASEAN Strategy for Carbon Neutrality released in 2023 outlined the aspiration to develop the interoperability of carbon markets by way of harmonising measurement, reporting & verification standards, and policies to access global liquidity and regional carbon sink potential.

Also present were representatives from MITI’s Industry Environment, Social, and Governance (iESG) Division Dr Max Wong Wai Khuen and the ASEAN Economic Integration Division.