Bursa Carbon Exchange (BCX) will host an auction for its first carbon credits, from the Kuamut Rainforest Conservation Project, on 25 June 2024. However, it will take some time for Sabah to see tangible benefits from the carbon credits trade, said state finance minister Datuk Seri Masidi Manjun. The project aims to conserve and rehabilitate 83,381 hectares of tropical forests, reducing an estimated 800,000 tonnes of carbon dioxide equivalent (tCO2e) annually.

Source: New Straits Times