Friday, 04 October 2024.
Malaysian Bursa Carbon Exchange (BCX) started to continuously trade renewable energy certificates (RECs).
“This development marks a significant milestone as BCX expands its trading offering from voluntary carbon credits to now include voluntary unbundled RECs.” indicates the press release.
After a previous one-off hydropower REC auction last 25 June, related to the 944MW Murum Dam from Sarawak Energy, it is now possible to trade RECs generated also from solar photovoltaic, bioenergy and small-hydropower sources.
This announcement happens less than 2 months after BCX carried out its first carbon credit auction, on 25 July, with carbon credits from the Kuamut Rainforest Conservation Project. It is a project protecting and restoring 83,381 hectares of tropical forest in Sabah, expected to save on average 800,000 tCO2e per annum, besides additional social benefits.
When BCX was launched, several options for carbon crediting projects were indicated:
Technology-based: Renewable energy, Energy Efficiency, Waste Disposal, Industrial Gases, Household Devices, Transport, Tech-based Removals
Nature-based: Agriculture/Soil Carbon, Forestry, Other Land Use, Blue Carbon
BCX next auction of RECs is scheduled for 28 November 2024. The contract types offered will be Solar REC Contract (SRECv24), Bioenergy REC Contract (BRECv24) and Hydroelectric Renewable Energy Certificate (HRECv24). Click at the image below for more details.
If you are an interested corporate buyer, click here.
With a population of 34 million inhabitants, Malaysia is slightly larger than Italy. The country is a member of OPEC+, group that represents around 40% of world oil production. Petronas, Malaysian state-owned oil company, is a long-date regional protagonist of cross-border carbon capture and storage (CCS) projects.
