Yinson is one of 15 companies to have successfully participated in Bursa Malaysia’s inaugural carbon credit auction as part of its sustainability efforts to reduce its carbon footprint.

The auction, which took place on 16 March 2023, via the Bursa Carbon Exchange (BCX), saw 150,000 Vera-registered carbon credits, consisting of Global Technology-Based Carbon Contract and Global Nature-Based Carbon Plus Contract, purchased by 15 local buyers. Yinson was among the buyers who secured carbon credits to offset its greenhouse gas emissions from its operations.

Yinson Head of Sustainability, Dr Renard Siew said, “We are delighted to have supported Bursa Malaysia’s historic initiative to launch the country’s first voluntary carbon market. This is indeed a first step in the right direction and we hope that this will create more opportunities in the future for many more companies to show their support.”

Yinson has set our Climate Goals target of achieving carbon neutrality by 2030 and net zero by 2050. The Group’s first priority towards achieving our Climate Goals is to reduce emissions through energy efficiency measures and changes in business practises. Only then will any residual emissions be offset with the help of high-quality carbon credits. Our participation in the BCX’s maiden carbon credit auction demonstrates just one of the many proactive steps Yinson is taking to not only meet our sustainability targets but also contribute to the global effort to combat climate change.

BCX, the world’s first Shariah-compliant carbon exchange, enables the trading of standardised contracts with underlying carbon credits from climate-friendly projects and solutions.