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

[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.