KUCHING, 15 MARCH 2023: Sarawak is powering the region’s carbon market with the Asia Carbon Conference 2023 (ACC2023), the first conference of its kind in Asia to explore innovative and effective solutions to tackle climate change and set the tone for policymaking, investment opportunities and new technologies in the carbon market.
Thanks to the strong collaboration between Argus Media and the Ministry of Energy and Environmental Sustainability Sarawak, over 400 global leaders in the fields of carbon offsetting and trading are convening from 15-16 March 2023 in Pullman Hotel Kuching, setting the stage for pivotal policy-making decisions, cutting-edge investment opportunities, and innovative technologies that will shape the future of the carbon market.
Speakers from more than 9 countries including the United Kingdom, Norway, Japan, South Korea, Thailand, the Philippines, Indonesia, Singapore, and Malaysia are providing insights into the regulatory framework of carbon markets as well as the future of the Asia Pacific carbon market.
During today’s opening ceremony, Sarawak Premier The Right Honourable Datuk Patinggi Tan Sri Abang Johari Tun Openg revealed the state’s strategy for a low-carbon future with the intention of achieving net-zero emissions by 2050. The strategy is centred around the goal of achieving economic prosperity, social inclusivity, and sustainable environment as stated in Sarawak’s Post Covid-19 Development Strategy. Environmental sustainability is at the heart of PCDS 2030, and the Premier emphasised the state’s commitment to promoting sustainable practices in key sectors such as agriculture, tourism, and natural resource management.
The Premier also highlighted Sarawak’s potential to create carbon sinks from its Permanent Forests, promoting carbon sequestration, and undertaking tree planting schemes for carbon credits. Sarawak has approximately 7.7 million hectares or 62% of its total land area under forest cover, with 7 million hectares allocated for sustainable forestry and conservation under the Sarawak Land Use Policy.
Of these, 6 million hectares are permanent forests and 1 million hectares are Totally Protected Areas, demonstrating Sarawak’s firm commitment to the conservation and regeneration of its forests. The Premier then called for a collective effort to combat climate change with governments, businesses, and individuals all playing a crucial role in achieving the shared goals.
The final segment of ACC 2023 on 16 March will have a specific focus on Carbon Capture, Usage and Storage (CCUS) with discussions on Sarawak’s CCUS developments, how investors and developers can build a sustainable CCUS industry and analysing CCUS project prospects in Asia among other key topics.
ACC 2023’s head sponsor is SaraCarbon and is supported by Business Events Sarawak.
This press release was originally written by Place Borneo and edited by BESarawak.