Forest in Sabah, Malaysia. (Photo: CIFOR-ICRAF / Flickr)
The Malaysia Forest Fund (MFF) introduced its Forest Conservation Certificate (FCC) on May 27, aimed at redirecting funds from the private sector to back forest conservation initiatives in the country, serving as a non-market mechanism.
Tax deduction encourages FCC participation
Minister of Natural Resources and Environmental Sustainability Nik Nazmi highlighted during the launch that FCC projects, verified by independent bodies, could assist companies in fulfilling environmental, social, and governance (ESG) reporting requirements under biodiversity.
