The lack of policy coherence and the existence of legal loopholes create an environment of uncertainty, undermining the reliability and credibility of such initiatives in the eyes of these key stakeholders. [...] The policy provides the opportunity to address the jurisdictional complexities surrounding carbon by clearly delineating the role of federal and state governments in regard to carbon-related responsibilities, as well as harmonising the legality surrounding carbon as a commodity and pollutant. [...] As states might respond differently, the national carbon market policy should provide the aspects and principles to be considered under the state carbon policy and legislation, in which the climate change bill can then provide the legal tooth to assist in the implementation of the policy. [...] Regulation (EU) 2023/1115 of the European Parliament and of the Council of 31 May 2023 on the making available on the Union market and the export from the Union of certain commodities and products associated with deforestation and forest degradation and repealing Regulation (EU) No 995/2010. [...] Regulation (EU) 2023/1115 of the European Parliament and of the Council of 31 May 2023 on the making available on the Union market and the export from the Union of certain commodities and products associated with deforestation and forest degradation and repealing Regulation (EU) No 995/2010.
- Pages
- 22
- Published in
- Malaysia
Table of Contents
- About ISIS Malaysia 2
- About the contributors 2
- Acknowledgments and special thanks 3
- Key takeaways 4
- 1. Background 5
- 1.1 Introduction 5
- 1.2 Rationale for NPE 5
- 2. Status of conservation funding and financing in Malaysia 7
- 3. Challenges in transitioning towards NPE 10
- 3.1 Federal-state dynamics in environmental policies 10
- 3.1.1 Trickling down federal targets policies 10
- 3.1.2 Policy conflict incoherent 10
- 3.1.3 Fiscal-transfer effectiveness 11
- 3.2 Lack of policy regulatory framework on carbon trading and markets 11
- 3.3 Absence of domestic market conducive business environmen 12
- 3.3.1 Shortage of domestic expertise and human capital for project execution 13
- 3.3.2 Lack of support for development of nature-based projects 13
- 3.3.3 Capacity bureaucracy at state level 13
- 3.4 Weak incentive structure for businesses to minimise environmental harms 13
- 4. Policy recommendations 14
- 4.1 Developing fair-share contribution model for state governments 15
- 4.2 Developing market enablers for conservation 15
- 4.2.1 Deploy first-best economic instruments for environmental and climate action 15
- 4.2.2 Promote blended financing models to de-risk conservation projects 16
- 4.3 Build business ecosystem for conservation markets 16
- 4.3.1 Develop a national policy and regulatory framework for carbon trading 16
- 4.3.2 Build the domestic expertise to develop and manage carbon projects 17
- 4.3.3 Review existing laws and procedures to facilitate conservation projects 17
- 4.4 Contextualising nature-based solutions for Malaysia 18
- 5. Conclusion 18
- Endnotes 20
- References 21
