Isramart: Malaysia Ranks 5th In The World For CDM Projects

Isramart news:
Malaysia ranks fifth in the world for its Clean Development Mechanism (CDM) projects registered with the United Nations Framework Convention on Climate Change.

Minister of Natural Resources and Environment, Datuk Seri Douglas Uggah Embas, said the country has registered 81 projects with the CDM secretariat in Bonn, Germany.

“The projects can contribute to the reduction of more than 5.04 million tonnes of carbon dioxide.

“We are also progressing well in the implementation of environmentally-sound projects under the CDM,” he said at the opening of the seminar on climate change, entitled “Can Cancun Redeem Copenhagen?”, here Monday.

He said the CDM projects would allow net global greenhouse gas emissions to be reduced at a much lower global cost with industrialised countries financing emission reduction projects in developing countries where the cost was lower.

China is first with 715 CDM projects followed by India (477).

Thailand is ranked tenth, the Philippines, sixth and Indonesia, ninth.

The ministry’s recent redesignation of Pusat Tenaga Malaysia as Malaysian Green Technology Corp was a testimony to the country’s efforts to further combat climate change, he said.

Douglas said to further stimulate the development and use of renewable energy and energy-efficient activities and technologies, the government has introduced fiscal incentives such as pioneer status for corporations, investment tax allowance and import duty and sales tax exemption for equipment used in energy conservation.

“The government will formulate a comprehensive and detailed roadmap to address the climate change issue in the long term.

“This will include sectors such as transportation, industrial processes, agriculture and forestry,” he said.