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Malaysia’s Sarawak seeks billion-dollar gains in global decarbonisation market

The state’s extensive forests, geological structures suitable for carbon injection and hydropower resources hold much economic potential

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Tan Ai Leng

Tan Ai Leng

Published Mon, Jul 8, 2024 · 05:00 AM
    • The Sarawak State Legislative Assembly. Last November, Sarawak became the first state in Malaysia to enact legislation on carbon trading.
    • The Sarawak State Legislative Assembly. Last November, Sarawak became the first state in Malaysia to enact legislation on carbon trading. PHOTO: PIXABAY

    [KUALA LUMPUR] Malaysia’s largest state Sarawak might be more known for its commodity exports, but it has big plans to enter the lucrative carbon trading business, leveraging on its extensive forest resources and renewable energy projects.

    Timothy Ong, the chief executive officer of InvestSarawak, said the global focus on carbon neutrality is intensifying as low production costs alone are no longer sufficient for market success.

    InvestSarawak is a government agency that is dedicated to attracting foreign direct investment into the state.

    MalaysiaRenewable energycarbon capture and storageAseanAsean Business

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