Due to the urgency of this issue, this report aims to: a) understand current trends and future drivers of investment and GHG emissions in the Malaysian steel industry; b) examine the needs of carbon pricing for the manufacturing sector and the steel sub-sector specifically and the available types of carbon pricing that are feasible to be implemented in the Malaysian context, including a Carbon Bor. [...] 79 Lastly, based on the examination of the pros and cons of the carbon tax and the cap-and-trade models, coupled with the examination of existing policies implemented by the ASEAN peers and the international community, the authors propose a timeline and a step-by-step implementation plan for carbon pricing measures for the local steel industry. [...] To examine the needs of carbon pricing for the manufacturing sector and the steel sub-sector specifically and the available types of carbon pricing that are feasible to be implemented in the Malaysian context, including CBAM. [...] Urgency of Carbon Pricing for the Steel Industry Due to the rapidly increasing amount of GHG emissions in the steel industry, from 4.5% in 2020 to 12% in 2030 (Malaysian Iron and Steel Industry Federation, 2022), it is important for Malaysia to rapidly adopt measures that can stop the growth in emissions from the sector and to develop policies that support the transition towards a low-emissions gr. [...] 2026 Require at-source measurement of GHG emissions in the steel industry and the reporting of GHG emissions in the production of imported steel and selected steel products.
- Pages
- 44
- Published in
- Malaysia
