KUCHING: The state’s carbon trade protocol will not take a long time to be established.
In stating this, Premier Datuk Patinggi Tan Sri Abang Johari Tun Openg said this is because it depends on the technology and database that is available.
“There isn’t an established protocol yet for carbon trading. However, there is a ready baseline for calculating carbon storage, and also the principles of carbon trading.
“Calculating carbon (storage) and the principles of carbon trading depend on what is known as the London Protocol.
“While the London Protocol becomes the baseline, the Sarawak government is collaborating with the World Bank to evaluate the principles of how we value the carbon we store,” he said.
He said this when officiating at the State-level International Day of Forest (IDF) celebration held at Sabal Forest Reserve in Serian on Saturday (June 8).
Abang Johari, who is also the Minister of Energy and Environmental Sustainability, explained that carbon in trees has a different value compared to carbon in mangroves, as mangroves are better at storing carbon than trees.
“Thus, I have also informed this matter to the Prime Minister Datuk Seri Anwar Ibrahim because the federal government hasn’t developed this (carbon trading protocols) yet,” he said.
He added what is needed now is a trans-boundary protocol between countries.
“So, we are given support by the federal government and as mentioned, we are collaborating with credible agencies because carbon trading is a new field. There are many consultants, but we need to be guided by reliable institutions like the World Bank,” he pointed out.
Addressing a question about the situation in neighbouring countries, the Premier said he had recently met with Indonesian officials to discuss carbon trading, especially in Kalimantan.
“Our cooperation is crucial as we explore this new area (carbon trading) as there will definitely be risks.
“So, we need to start somewhere and work with credible people and banks for financing,” said Abang Johari.
