KUCHING: Premier Datuk Patinggi Tan Sri Abang Johari Tun Openg is scheduled to give a keynote address on the state’s strategy towards a low carbon future on Wednesday (March 15).
Entitled “Net Zero by 2050: The Sarawak Strategy for a Low Carbon Future” he will deliver it at the three-day Asia Carbon Conference 2023 here.
Organised by Argus Media in collaboration with the Ministry of Energy and Environmental Sustainability Sarawak, the event is the first industry leadership conference for carbon offsetting and trading in Asia and will set the tone for policy-making, investment opportunities and new technologies in the carbon market.
With headline sponsor SaraCarbon Sdn Bhd, the conference started Tuesday (March 14) with a pre-conference networking session for delegates and speakers slated for the evening. The event is also supported by Business Events Sarawak.
Speakers from at least nine countries – United Kingdom, Norway, Japan, South Korea, Thailand, Philippines, Indonesia, Singapore, and Malaysia – will congregate here, with delegates from various countries, to network and exchange ideas and information on fundamental questions about carbon offsets: what are they, how do they work, and how might they impact Asia?
Two tracts will be featured over two conference days: “The Asian Carbon Markets: Rules and Regulations” and “Forestry, CCUS, and the Future of the Asia Pacific Carbon Market”.
The content focuses on the Asian direction and initiatives on carbon within the global parameters set during key meetings such as COP 27 and the Paris Agreement.
Cross-border collaborations within and beyond the region will be discussed in forums and case studies of different countries and their carbon market strategies and projects will be featured namely Australia, New Zealand and Norway (Northern Lights).
Abang Johari, in his welcoming speech printed on the programme booklet, said climate change is a global challenge that requires urgent and coordinated action from everyone.
He said the consequences of inaction are dire, and everyone must act decisively to mitigate the impacts of climate change and ensure a sustainable future for the planet.
“One of the key tools we have in this fight is carbon credit, which enables us to put a price on carbon emissions and incentivise companies and individuals to reduce their carbon footprint.
“This can be done in various forms, including cap-and-trade systems, carbon taxes, and offset programmes. In Sarawak, we have taken significant steps towards developing a well-designed and well-connected carbon market that can support the transition to a low-carbon, climate-resilient future,” he said.
The vast forest carbon pool in Sarawak, he said, is an asset that can be tapped upon by interested parties in the carbon credit market.
“By protecting and preserving our forests, we can not only help to mitigate climate change and promote a sustainable economic growth but also increase carbon uptake levels through forest development projects. Carbon sequestration and offset credits are also important for future businesses,” he added.
He said companies can demonstrate their commitment to environmental sustainability and reduce their carbon footprint by investing in carbon sequestration and offset credits.
This can also help to build their brand and reputation and attract customers who are increasingly conscious of the environmental impact of their purchasing decisions.
“Moreover, carbon credit, utilisation and storage can attract international investment to Sarawak, creating new opportunities for our people and supporting economic growth,” he said.
“Additionally, reputable companies from Singapore, South Korea and Japan have also shown keen interest in participating and investing in CCUS in Sarawak,” he added.
Abang Johari said the Sarawak government has envisioned that by 2030, the state will be a thriving society driven by data and innovation anchored on three important pillars of economic prosperity, social inclusivity and sustainable environment.
Following this, Sarawak will develop a Sustainable Sarawak Blueprint to guide all government agencies, businesses and communities in achieving its desired sustainability goals.
In conclusion, carbon credit, utilisation and storage, as well as biodiversity conservation, are critical tools that we can use to address climate change and promote sustainable economic growth, he said.
“Sarawak is committed to playing its part in this global effort, and we invite all of you to join us in this important mission,” he said.
