EDITION
  • English
  • 中文
  • Bahasa
  • eCommerce
Monday, August 15, 2022
uLearnMoney Subscription Events
No Result
View All Result
Money Compass

Media and partner organizations:

cmc bmc ulearnmoney mylife mcm
  • HOME
  • NEWS
    • Global Market News
    • Local Market News
    • Corporate News
    • PLC News
  • SPECIAL FEATURE
  • COMPASS
    • Financial
    • Investment
    • Start Up
    • Capital
    • Infographics & Quotes
  • MONEY TUBE
  • LIFESTYLE
  • PR NEWSWIRE
Subscription
Newsletter
Money Compass
  • HOME
  • NEWS
    • Global Market News
    • Local Market News
    • Corporate News
    • PLC News
  • SPECIAL FEATURE
  • COMPASS
    • Financial
    • Investment
    • Start Up
    • Capital
    • Infographics & Quotes
  • MONEY TUBE
  • LIFESTYLE
  • PR NEWSWIRE
No Result
View All Result
中文 Bahasa eCommerce
Money Compass

Bursa Malaysia and Verra team up to boost VCM ecosystem

by moneycompass
May 31, 2022
in Local Market News
Bursa Malaysia Berhad (“Bursa Malaysia” or the “Exchange”) recorded a Profit After Tax and Zakat (“PAT”) of RM127.4 million for the first half ended June 30, 2022 (“1H2022”), a 39.4% decrease from RM210.4 million reported in the previous corresponding half ended 30 June 2021 (“1H2021”).
Share on FacebookShare on WhatsApp

KUALA LUMPUR – In an effort to further strengthen the Voluntary Carbon Market (VCM) ecosystem, Bursa Malaysia Berhad and Verra, the world’s leading greenhouse gas crediting programme manager, have inked a Memorandum of Understanding (MoU) on May 12 this year.

In a recent statement, the Exchange stated that this MoU will help enable Bursa Malaysia to pursue its goal in establishing a VCM which is scalable, capable of serving a broad range of market participants, and is based on established rules and international standards.

The VCM was announced in October 2021 as an initiative led by Bursa Malaysia to enable businesses to offset their carbon footprints through purchasing carbon credits generated by projects with aims to remove or reduce greenhouse gas emissions.

According to the Exchange, the VCM’s establishment is in line with Malaysia’s plans to transition towards becoming a low-carbon economy with goals to become a carbon-neutral country by 2050.

The statement explained that Verra is a leading international standard-setting non-profit organisation that manages the Verified Carbon Standard (VCS) programme. Known as the world’s largest greenhouse gas crediting program, the VCS has over 1,800 registered projects in nearly 100 countries, generating more than 900 million carbon credits to date.

Additionally, Verra helps to address the world’s most intractable environmental and social challenges through developing and managing standards that enables the private sector, nations, and civil society to realise ambitious sustainable development and climate action goals.

Apart from that, Bursa Malaysia also intends to establish a VCM that will allow for digitally trade standardised contracts for high quality carbon credits to be done in a transparent and orderly way.

The Exchange’s CEO, Datuk Muhamad Umar Swift, stated that collaborating with Verra is the first of many avenues that Bursa Malaysia aims to use in order to create a fair and orderly VCM.

“We will continue to work together with other organisations such as Verra, that have well-established methodologies for measuring climate action and sustainable development outcomes and have been through extensive stakeholder consultation and review.

“It is expected that the market will acknowledge Verra’s VCS programme to be among the main standards used to issue high quality carbon credits to be traded,” he continued.

Meanwhile, Verra’s CEO, David Antonioli, stated that Verra is looking forward to supporting Bursa Malaysia to establish a VCM to help scale up urgently required climate action.

The statement had also noted that the MoU was inked with the intention of enhancing local capacity in Bursa Malaysia along with the potential market participants and local ecosystem players via webinars, workshops, seminars and other events, in order to lay the needed foundation for a robust VCM in Malaysia.

 

Join our Telegram group for the latest updates!

 

Read more: Malaysia’s Islamic fintech industry needs more industrial providers

Tags: Bursa Malaysia BerhadVoluntary Carbon Market (VCM)
ShareSendShareSendTweetShare
Previous Post

Winner Medical Announces to Acquire 55% Stake in Zhejiang Longterm Medical for US $108.2 Million

Next Post

Extending A Circle Of Hope To Caregivers Of Mental Health Patients

Related Posts

Bursa Malaysia Berhad has announced that it will be launching the Voluntary Carbon Market (VCM) exchange later this year.
Local Market News

VCM exchange to launch by end of 2022 – Bursa Malaysia

15 Aug 2022
ringgit malaysia, RM, US dollar
Local Market News

Malaysia’s ringgit generally stable against key trade partners’ currencies

15 Aug 2022
The third quarter of 2022 (Q3 2022) is likely to be equally as strong as Q2 2022 which had a stellar GDP growth performance of 8.9%, bringing the overall growth to 6.9% in the first half of this year.
Local Market News

Q3 2022 GDP performance expected to be equally stellar – Finance Minister

15 Aug 2022

Discussion about this post

MOST POPULAR

  • PhillipCapital Group successfully concluded its first hybrid Phillip Investment Conference 2022, on July 30, at the Berjaya Times Square Hotel, in the presence of over 2,800 delegates both physically and virtually.

    PhillipCapital Concludes First Hybrid Conference With A Bang

    0 shares
    Share 0 Tweet 0
  • Malaysian ringgit ranked as cheapest currency in region

    0 shares
    Share 0 Tweet 0
  • FWD Group unveils “press play” brand campaign

    0 shares
    Share 0 Tweet 0
  • Top 100 SMEs Defy Economic Headwinds to Post Triple-Digit Growth

    0 shares
    Share 0 Tweet 0
  • Malaysia’s exports to contract in 2020 at 8.3% amid MCO, COVID-19 crisis

    0 shares
    Share 0 Tweet 0

MEMBERSHIP SUBSCRIPTION

Subscribe Now

Sign Up for Our Free Newsletters

Stay up-to-date with the latest personal wealth-related articles, breaking financial market news, and more.

Follow us on Social Media

News
Special Feature
Compass
Money Tube
Smart Lifestyle
Corporate Profile
Advertise
Subscriptions
Career
Contact Us
eLearning
Events
Privacy Policy
Terms of Use
Strategic Partners

Copyright © . Money Compass. All Rights Reserved.

Design and Development by Ant Internet Sdn Bhd

No Result
View All Result
  • HOME
  • NEWS
    • Global Market News
    • Local Market News
    • Corporate News
    • PLC News
  • SPECIAL FEATURE
  • COMPASS
    • Financial
    • Investment
    • Start Up
    • Capital
    • Infographics & Quotes
  • MONEY TUBE
  • LIFESTYLE
  • PR NEWSWIRE

© 2020 Money Compass

Career

SUBSCRIBE FREE NEWSLETTER