National Climate Change Bill To Institutionalise Mandatory Carbon Accounting - Arthur

KUALA LUMPUR, Oct 8 (Bernama) -- The proposed National Climate Change Bill will institutionalise mandatory carbon accounting and clear governance to give businesses the legal certainty needed to decarbonise.

Natural Resources and Environmental Sustainability (NRES) Minister Datuk Seri Arthur Joseph Kurup said the legislation, alongside the National Climate Change Policy 2.0, would align Malaysia’s environmental agenda with the National Energy Transition Roadmap (NETR) and New Industrial Master Plan 2030 (NIMP 2030).

He said the measure would also strengthen investor confidence and encourage domestic and international investment in clean technologies.

“With our upcoming National Climate Change Bill, we will institutionalise mandatory carbon accounting and clear governance to give businesses the legal certainty they need to decarbonise,” he said in his opening remarks at the 17th International Greentech and Eco Products Exhibition and Conference Malaysia (IGEM) 2026, held alongside the Kuala Lumpur Sustainability Summit (KLSS) 2026 at Kuala Lumpur Convention Centre, today. 

The event was officiated by Deputy Prime Minister Datuk Seri Fadillah Yusof, who is also Minister of Energy Transition and Water Transformation.

Arthur said the National Carbon Market Policy, launched in April, established a transparent and high-integrity regulatory framework for voluntary and compliance markets, with clear Monitoring, Reporting and Verification (MRV) standards aligned with Article 6 of the Paris Agreement.

He said the policy would provide domestic developers and global investors with the regulatory certainty needed to trade carbon credits, particularly in driving decarbonisation across hard-to-abate sectors.

“Through the Green Technology Financing Scheme 5.0, we support the industry by providing government guarantees that help reduce financing risks and ease access to financing for green projects,” he said.

He noted that the scheme, together with the Green Investment Tax Allowance, would improve the viability of green investments and give project developers greater confidence to turn green ambitions into bankable projects.

He said the Malaysian Green Technology and Climate Change Corporation (MGTC) was also expanding practical tools such as the MyHIJAU Mark to verify green products and services, while enabling Malaysian businesses to access government green procurement and high-value green supply chains across ASEAN.

At the sub-national level, Arthur said the ministry was working with state governments and local authorities to accelerate green technology adoption, including through the Low Carbon Cities Framework, which enables local councils to measure, manage and reduce urban emissions.

He said IGEM and KLSS complemented each other by connecting green technologies with industry and local leaders, while bringing regulators, financiers and thought leaders together on governance, taxonomy and transition finance needed to scale green technologies.

The minister said IGEM had generated more than RM86 billion in business leads and attracted over 700,000 global participants since its inception, while IGEM 2025, held alongside the inaugural KLSS, generated RM7.3 billion in potential green investments through structured business-matching sessions.

The 17th edition of IGEM, themed “Race Towards Net Zero: Action Beyond Boundaries”, is being held from Oct 7 to 9.  It is organised by the NRES and its agency, MGTC.

-- BERNAMA