Monthly Wrap-Up: January 2023
31 January 2023: The inclusion of the role of the federal government in town and country planning would promote coordination and ensure “development takes place in a well-balanced manner and accords with the sharing of responsibilities and the principle that public interest precedes private interest in the use and development of land.”
Last month, a landmark Federal Court judgement in favour of the environment was delivered in the decade-long Sungai Ara, Penang hillslope development case. We discuss what the judgement says and keep our fingers crossed for its implications.
We also talk about the hot topic of carbon trading. We looked at the investigation by The Guardian, Die Zeit, and SourceMaterial which says that more than 90% of the rainforest carbon credits issued through carbon credit scheme Verra have overclaimed their benefits for slowing down climate change.
With Malaysia having just launched our Voluntary Carbon Market using the Verra standard, there needs to be more cooperation and scrutiny to improve carbon credit schemes.
And we look ahead to Budget 2023 and the green goodies that were promised then as well as are being promised in the coalition government’s maifestos.
Macaranga Webinar: Carbon market 101
5 January 2023: A month ago, Bursa Malaysia launched the country’s first voluntary carbon market exchange. The exchange aims to attract companies to “to trade voluntary carbon credits from climate-friendly projects and solutions, with the aim to offset their emission footprint and meet climate goals.”
Right, but what does trading of carbon credits really mean for conservation, human rights, and climate action in the country? Those and more were discussed in a webinar we organised for Macaranga Supporters.
Carbon analyst Tan Win Sim explained the aims and basic mechanisms of a carbon market exchange (another speaker had to cancel due to a last minute emergency). During a rigorous 30-minute Q&A session, participants and Win Sim shared views on the dynamics between carbon credits and greenwashing, indigenous peoples, and reducing carbon emissions.