Tag: environment
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Malaysia’s Voluntary Carbon Market
The first auction on the Bursa Carbon Exchange (BCX), Malaysia’s new voluntary carbon market, took place on March 16 with around RM7.7 million in carbon credits sold. Although the auction was described in the official press release as evidence of “strong interest and [a] healthy price signal by the domestic corporate sector”, it must be…
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Korea Should Lead on International Carbon Trade Policies
Korea has always responded quickly to emerging economic trends, and the European Union’s recent introduction of a carbon import tax (CBAM) is no exception. The Korean government has started negotiations and announced improvements to the domestic carbon trading system (K-ETS). Korean businesses have announced plans for green technological upgrading. Meanwhile, the United States is planning…
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In EU-Malaysia Trade Relations, Urgent Need to Address Carbon Pricing
On 23 December deputy prime minister Fadillah Yusof complained about the European Union’s (EU) new regulations banning the import of commodities linked to deforestation. He called the restrictions “unfair”, based on “unsound reasoning” and said they were “offensive to Malaysia”. Fadillah’s comments are only the latest salvo by a Malaysian minister against the EU, with…