Mpia, Bursa Carbon Exchange Collaborate On Renewable Energy Certificates Market

By Fatin Umairah and Ziera Adurah Najwa

KUALA LUMPUR, Jan 16 (Bernama) -- The Malaysian Photovoltaic Industry Association (MPIA) has signed a memorandum of collaboration (MoC) with Bursa Carbon Exchange (BCX), aiming at building awareness about the Renewable Energy Certificates (RECs) market while educating project developers on how to monetise it through BCX.

The first-time collaboration between both parties signified a proactive commitment to fostering sustainability, aligning with the overarching goals of the MPIA Solar Roadshow 2024 and creating a transparent market for RECs in Malaysia.

The MoC was signed by Bursa Malaysia chief executive officer Datuk Muhamad Umar Swift and MPIA president Davis Chong Chun Siong, here today.

According to Chong, BCX, which launched last year, is now progressing towards incorporating renewable energy certificates into its market. 

“This initiative by Bursa Malaysia is commendable, and we aim to bring together all industry stakeholders and project owners to participate in and contribute to the marketplace and ecosystem,” he told Bernama after the MoC signing.

Meanwhile, Bursa Malaysia head of Carbon Market Chen Wei-nee said BCX’s initial goal was to trade carbon credits, but the current intention is to transform it into a one-stop Shariah-compliant and multi-environmental product.

“We do not just offer carbon credit to our corporates, but it is like a supermarket that sells a variety of environmental, social and governance (ESG) related products so that we can help our corporates, especially the publicly listed companies or companies in Malaysia to be able to hydrate and serve,” she added.

-- BERNAMA