Malaysia is poised to become one of Asia's leading carbon markets, according to global consulting giant McKinsey & Co.
Carbon markets are a crucial instrument for nations to reduce their greenhouse gas emissions and fulfill their Paris Agreement goals.
Such a market would help the country meet its climate goal and bolster new economic activities, said the consulting firm.
McKinsey & Co partner Vaibhav Dua, in responding to queries from StarBiz, said Malaysia has substantial natural endowments that could help it generate carbon credits. For example, it has about 18 million hectares of forest cover.
