5 more years for Malaysia to realise full potential in carbon trading

Sunday, 02 March 2008

According to Malaysia Energy Centre, agricultural and natural resources-rich Malaysia has 100 million tonnes of carbon credit, which is translated into some RM5 billion in revenue and could potentially benefit from carbon trading, which is now worth US$60 billion globally but could grow to US$1 trillion in a decade. As the emission trading scheme under the Kyoto Protocol commences this year, domestic sectors that would be poised to benefit from carbon trading would be transportation, manufacturing, oil and gas and plantations. To encourage corporations to go green, the Malaysian government has exempted carbon credit income from tax from 2008 to 2010. From a corporation’s perspective, the main incentive to go green would be that such practices make good corporate social responsibility as well as its cost recovery potential. Read the full article by The Edge Daily.