Climate Change Bill Expected To Be Tabled This Parliamentary Session - Syed Ibrahim

KUALA LUMPUR, Jan 20 (Bernama) -- The National Climate Change Bill is expected to be tabled for at least its first reading during the current meeting of Parliament as a crucial step towards strengthening climate change governance and supporting Malaysia’s carbon reduction commitments.

Deputy Minister of Natural Resources and Environmental Sustainability (NRES) Syed Ibrahim Syed Noh said the ministry is currently finalising the National Carbon Market Policy to establish an inclusive framework for carbon trading, in tandem with the drafting of the Bill.

He said the policy and the Bill would provide the government with the legal mandate to regulate greenhouse gas (GHG) emissions from domestic facilities and strengthen market instruments and governance, aligned with Malaysia's commitments under Article 6 of the Paris Agreement.

“With this Bill and the carbon market policy in place, the government will have the legislative authority to regulate carbon trading activities, including Internationally Transferred Mitigation Outcomes (ITMO), which will contribute towards the nation's climate change mitigation targets.

“At the same time, this Bill will enhance transparency and accountability through carbon emission measurement and reporting mechanisms, directly supporting the Nationally Determined Contribution (NDC) targets,” he said during the question-and-answer session in Dewan Rakyat today.

Syed Ibrahim was responding to a supplementary question from Datuk Seri Hasni Mohammad (BN-Simpang Renggam) regarding the status of the Bill and its potential, alongside carbon-related policies, to position Malaysia as a green economy hub.

The deputy minister said the Bill and the associated policy would pave the way for the country to become a regional centre for carbon trading and contribute to sustainable green economic growth.

He said to ensure comprehensive implementation, the ministry has conducted at least 13 engagement sessions with state governments and invited public feedback through a consultation paper on the Bill, which was available on the ministry's website from October to December last year.

Syed Ibrahim added that further engagement sessions with industry players and non-governmental organisations (NGOs) will be held to gather feedback on the implementation of the carbon market and the Bill.

“The carbon market is a new field and remains under close study. Therefore, efforts to inform the industry and the public will be intensified to ensure the benefits to the country and its people are clearly understood,” he added.

-- BERNAMA