I HAVE to admit I am finding it difficult to pin down a firm point of view on the concept of carbon credits and carbon markets. Given the rather lukewarm reception the first couple of carbon markets launched in Southeast Asia have received, it seems I am not the only one.

In a story by Eco-Business last week, the head of Malaysia's newly launched Bursa Carbon Exchange (BCX), the first voluntary carbon market (VCM) in Malaysia and only the second one in the region, and Malaysia's environment minister lamented the lack of participation by Malaysian companies. At a carbon market forum on Oct. 5, 2023, BCX chief Muhamad Umar Swift, also the CEO of stock exchange regulator Bursa Malaysia, told businesses to 'step up and show their interest in buying or creating carbon credits.' Malaysia's minister of natural resources, environment and climate change Nik Nazmi Nik Ahmad, also speaking at the forum, said corporations 'need to put their money where their mouths are' to help support the country's sustainability goals.