Initiatives and market mechanisms for climate change actions in Malaysia

Rawshan Ara Begum, R. D Z R Z Abidin, Joy Jacqueline Pereira

Research output: Contribution to journalArticle

15 Citations (Scopus)

Abstract

This study briefly encompasses the current initiatives and alternative market mechanisms such as clean development mechanism, fiscal and financial incentives, regulatory requirements and insurance provision to address climate change actions in Malaysia. The government has taken many initiatives including promoting utilisation of renewable energy, energy efficiency in industry, building and transport sector, restructuring public transport system, cleaner fuel, stringent emission standards and alternative industrial processes technique. There is also a substantial Clean Development Mechanism (CDM) potential in Malaysia of up to 100 million tonnes CO2 equivalent for the period 2006 to 2012. At market prices between US$ 3 and 10 per tonne, this corresponds to a total capital inflow to Malaysia from sales of GDM credits (CERs) in the range of RM 1.14 to 3.8 billion. Bilateral and multilateral CDM projects might typically leverage project financing 3 to 4 times this amount, hence contributing substantially to foreign direct investment and technology transfer. Although, the Malaysian government has given much efforts to managing climate change issues, there is still need for improvement includes: integration of programmes in various agencies, adjustment of current sectoral-based approaches, stakeholder's consultation and cooperative actions and expansion of the use of market based instruments as well as carbon taxation and a cap-and-trade programmme augmented by regulatory systems. In addition, there is urgent need to address research and development (R and D) for both adaptation and mitigation. This balancing is required to avoid compromise in economic growth and sustainable development of this country.

Original languageEnglish
Pages (from-to)31-40
Number of pages10
JournalJournal of Environmental Science and Technology
Volume4
Issue number1
DOIs
Publication statusPublished - 2011

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clean development mechanism
climate change
market
technology transfer
foreign direct investment
public transport
energy efficiency
research and development
economic growth
incentive
sustainable development
stakeholder
inflow
mitigation
carbon
energy
project

Keywords

  • Adaptation
  • Clean development mechanism
  • Climate change
  • Mitigation

ASJC Scopus subject areas

  • Environmental Science(all)

Cite this

Initiatives and market mechanisms for climate change actions in Malaysia. / Begum, Rawshan Ara; Abidin, R. D Z R Z; Pereira, Joy Jacqueline.

In: Journal of Environmental Science and Technology, Vol. 4, No. 1, 2011, p. 31-40.

Research output: Contribution to journalArticle

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