Yinson has been appointed president of the Malaysia Carbon Market Association (“MCMA”), which was launched today, spearheading the advancement of Malaysia’s vision of making carbon markets accessible to all.

The launch ceremony was held during the second edition of the Malaysia Carbon Market Forum 2024, organised by Bursa Carbon Exchange, and was officiated by Datuk Dr Ching Thoo a/l Kim, Secretary-General of the Ministry of Natural Resources and Environmental Sustainability of Malaysia. The ceremony also witnessed by Tan Sri Nazir Razak, the Chairman of the ASEAN Business Advisory Council (“ASEAN-BAC”) Malaysia, as the formation of the MCMA was spearheaded by the Carbon Market Working Group of the ASEAN-BAC Malaysia.

Yinson, as one of the nine founding members of MCMA alongside Bornion Timber Sdn Bhd, Bursa Malaysia Berhad, Cenergi SEA Berhad, EeHSSE Consulting Sdn Bhd, Iskandar Investment Berhad (IIB), Petroliam Nasional Berhad (PETRONAS), Sarawak Energy Berhad, and SD Guthrie Berhad, brings a wealth of industry expertise and experience that will be significantly contribute to MCMA’s core focus areas, which include promoting a dynamic voluntary carbon market, aiding in the development of national carbon market policies, enhancing carbon market talent development, and collaborating with international and domestic carbon partners in both the public and private sectors.

During the launch, MCMA received RM 190,000 in seed funding from several of its founding members, including Yinson. This funding will be utilised to kickstart selected initiatives by MCMA, such as developing training programs to cultivate a pool of talent within Malaysia’s carbon market ecosystem.

Yinson believes that a vibrant and well-developed domestic carbon market is crucial for the long-term transition to a low-carbon economy. To this end, Yinson has actively participated in two carbon credit auctions, most recently for the Kuamut Rainforest Conservation Project.

In addition to its involvement with MCMA, Yinson is also driving the development of carbon market regionally, with Yinson Group Chief Executive Officer, Lim Chern Yuan, serving as Chairman of the ASEAN Alliance on Carbon Markets (AACM) and an ASEAN-BAC Malaysia Council Member.

For more information on MCMA, please visit www.mycarbonmarket.org.