Bursa Malaysia launched the country’s first voluntary carbon market (VCM) on December 9, with the first carbon credit auction to take place next March.
The Bursa Carbon Exchange (BCX), which is also the world’s first Shariah-compliant carbon exchange, calls for project developers, investors, and buyers to build local capabilities for the VCM ecosystem.
Bursa Malaysia chairman Abdul Wahid Omar said the online auction is currently in the trial phase, while the carbon projects for auction are now in the final stage of screening.