Malaysia’s Carbon Trading Market to be Made Shariah-Compliant

Speaking at a press conference after launching the Sungai Langat Trail in Bangi, Malaysia on the 30th of November 2021, Datuk Seri Tuan Ibrahim Tuan Man, Minister of Environment and Water of Malaysia, said that the planned domestic carbon trading market, a complex mechanism to incentivise carbon emission reductions, will be Shariah-compliant.

Why it Matters?

The Minister stated that a seminar was held on how to make carbon trading Shariah-compliant and that talks are ongoing with the Oxford University with a plan to hold several more engagements to learn how the market can be made in line with Shariah requirements.

Details

The Voluntary Carbon Market (VCM) initiative is expected to be launched on Bursa Malaysia in...