KUCHING: The state government has sent a mission to Lisbon in Portugal to study the functions and protocols for carbon trading.
Premier Datuk Patinggi Tan Sri Abang Johari said this is to facilitate Sarawak’s new source of revenue through carbon storage and capture (CCS).
He said the State Legislative Assembly (DUN) has amended the Forests Ordinance and Land Code which enables the state to provide the storage capacity for carbon.
“Sarawak is fortunate because it is one of the four areas in the world that has potential to store carbon due to its geological formations,” he said at the Singapore Business Delegation Networking Dinner at Pullman Hotel here on Tuesday (July 12).
“The 60 per cent forest covers in Malaysia is from Sarawak together with Sabah and the state is planting more trees through seed pour using drones. Thus far, the survival rate of these seeds is at 40 per cent and the moment you plant more trees, the more carbon credit and trading you get.
“For instance, South Korea has expressed interest in storing carbon in Sarawak and I said, ‘why not, but of course you know very well there is a fee’,” he said.
Abang Johari pointed out that Sarawak and Singapore can work together in identifying solutions for global warming specially to mitigate carbon emission by exploring new technology.
He said Sarawak and Singapore have their own respective strengths which should be combined through collaboration to become stronger together in the region.
“The state government is giving emphasis and has formulated our strategic approach based on the challenges faced by the world today. One of the challenges is climate change and global warming that will bring about natural catastrophes.
“This global issue can be an opportunity for the business community regardless whether you are from Sarawak or Singapore. You can identify (the opportunity) then utilise technology to focus on trying to mitigate climate change,” he said.
