KUALA LUMPUR (Dec 9): Bursa Malaysia Bhd on Friday (Dec 9) launched the Bursa Carbon Exchange (BCX), which is a voluntary carbon market (VCM) and the world’s first shariah-compliant carbon exchange. There will be no restrictions imposed on sales of carbon credits generated from Malaysian projects to foreign buyers, said Nik Nazmi. Verra is a widely recognised standard in the voluntary carbon market, and accounts for nearly 70% of voluntary carbon credit issuances globally. Muhamad Umar hopes that the BCX will incentivise buyers and sellers of carbon credits in Malaysia to invest and finance climate-friendly projects. The BCX will provide three modes of carbon trading: auction, spot trading for standardised contracts of carbon credits and spot trading services for off-market transactions.
