30 December 2022
On 9 December 2022, Bursa Malaysia with the introduction of the Bursa Carbon Exchange (“BCX”), launched the much-awaited voluntary carbon market exchange. The BCX will allow companies to offset their carbon emission footprint by enabling the companies to trade voluntary carbon credits from climate-friendly projects and solutions.
The BCX, which is also the first Shariah-compliant carbon exchange in the world, aims to achieve its target of net zero greenhouse gas emissions by 2050. It held Malaysia’s first inaugural carbon credit auction on 16 March 2023 with 15 buyers from various industries purchasing a total of 150,000 Verified Carbon Standard (Verra)-registered carbon credits.