KUCHING: Sarawak is taking the lead in the development of a well-designed carbon governance and mechanism.
Premier Datuk Patinggi Tan Sri Abang Johari Tun Openg said the mechanism will allow companies and individuals to reduce their carbon footprint and also support the transition to a low-carbon and climate-resilient future.
He said putting a price on carbon creates an economic incentive for companies and individuals to reduce carbon emissions.
“It makes it more expensive to pollute and less expensive to adopt clean energy and low-carbon technologies. This will help us to achieve our climate goals and promote sustainable economic growth,’’ he said.
The Premier said this in a keynote speech during the launching of the Asia Carbon Conference 2023 (ACC2023) at Pullman Hotel here today.
Abang Johari said the state government has been taking further steps to promote a low-carbon economy in Sarawak, through enacting legislations permitting carbon- and nature-based solution venture businesses.
Among others, Sarawak has amended and gazetted its Forest (Forest Carbon Activity) Rules 2022 which provides a legal framework to regulate forest produce that covers carbon stocks in the forest ecosystems.
“By allowing carbon and nature venture businesses, Sarawak is sending a clear signal that we are committed to addressing climate change and promoting sustainable economic growth.
“We envision that a price on carbon can create a financial value for activities that sequester carbon such as forest protection and reforestation.
“This can incentivize landowners to protect and preserve forests which play a crucial role in absorbing carbon dioxide from the atmosphere,” he said.
With Sarawak having approximately 7.7 million hectares of 62 per cent of its total land area under forest covered areas, Abang Johari said this represents a significant opportunity for the state to be at the forefront of sustainable forestry management policies.
He said seven million hectares have been allocated for sustainable forestry and conservation under the Sarawak Land Use Policy of which six million hectares are Permanent Forests, and one million hectares are Totally Protected Areas, thus demonstrating the state’s firm commitment to the conservation and regeneration of forests.
“We have the potential to create carbon sinks from our permanent forests, promote carbon sequestration, and undertake tree planting schemes for carbon credits which can provide a new source of revenues ranging from RM315 million to RM1.039 billion annually.
“This new approach to forest management represents a shift from the traditional revenue-generating logging of merchantable timber to a more sustainable, long-term approach that prioritises conservation, reforestation and regeneration,” he added.
