MALAYSIA LISTS HYDROGEN ENERGY, CCUS AMONG KEY PROJECTS FOR PARIS AGREEMENT CREDITING MECHANISM

PUTRAJAYA, Nov 4 (Bernama) -- Malaysia has identified green hydrogen energy, carbon capture, utilisation and storage (CCUS), and reforestation as among the key project areas to be authorised under the Paris Agreement Crediting Mechanism (PACM), according to the Ministry of Natural Resources and Environmental Sustainability (NRES).

The details were outlined in the Host Party Participation (HPP) requirements document submitted by NRES to the United Nations Framework Convention on Climate Change (UNFCCC) on Oct 30, which lists potential mitigation activities Malaysia may consider under the PACM.

According to the document, Malaysia may authorise projects in sectors such as energy, industrial processes, forestry, waste and carbon removal. 

These include energy storage systems, green hydrogen, electric buses, reforestation and afforestation, waste-to-energy and CCUS initiatives.

“The country will evaluate each mitigation activity on a case-by-case basis in line with the National Rules currently being developed,” the document stated, adding that all projects must align with Malaysia’s Nationally Determined Contributions (NDCs) and long-term low-emission development strategy.

NRES stated these activities will support Malaysia’s commitment to achieve net-zero greenhouse gas (GHG) emissions by 2050 and promote low-carbon, resilient growth consistent with the United Nations Sustainable Development Goals (SDGs) and adoption of Environmental, Social and Governance (ESG) principles. 

Separately, in a social media post, NRES said that apart from fulfilling the main requirements to participate in the PACM, the HPP submission also enables the transition of projects previously registered under the Clean Development Mechanism (CDM) to the new PACM framework.

It added that the submission represents an important step in Malaysia’s ongoing efforts to ensure the country reaps the benefits of carbon trading, both financially and through measurable reductions in GHG emissions.

-- BERNAMA