Carbon storage sites promise new revenue

Date:

spot_img
By Fasiha Khushiri

KUCHING: The setting up of carbon storage sites in Sarawak will allow the state to acquire a regulatory right to secure a new source of revenue.

Azizul Adenan (GPS-Tanjung Dato) said this can be achieved through the passing of the Land Code (Amendment) Bill 2022 in the House.

“Revenues, if any, will be generated from the sale and trading of carbon credits yielded from the capture and storage of carbon dioxide, through the imposition of levies, royalty or resource tax like in certain countries.

“If the amendment is not passed, only certain entities will be the sole beneficiary of all revenues derived from carbon storage,” he said during debate time at the DUN sitting today.

He said the proposed amendment will also create a new dynamic in the state’s collective effort in saving the environment and reducing its reliance on fossil fuel.

“This is to ensure a better future for our young Sarawakians and the world as a whole.

“I do not think there is any other state in this country or in this region that has this foresight in securing our rights on land and particularly on carbon storage,” he said.

Additionally, he said the passing of the Bill could also provide for an added value or new revenue stream for the state.

Platform to help youths venture into creative field

KUCHING: The Sarawak ICT & Multimedia Apprentice Raising Talent (SMART) incubator programme is a platform that helps youths venture into the field of multimedia...

Share post:

Our Opinion

More like this
Related

Aussie company plans to invest in lithium-ion battery production

PERTH: Deputy Premier Datuk Amar Awang Tengah Ali Hasan...

Over RM35mil in funding from Mara to Sarawakian entrepreneurs

KUCHING: Majlis Amanah Rakyat (Mara) has allocated over RM35mil...

Sarawak govt committed to cultural heritage tourism recovery

MIRI: The Sarawak government is helping heritage, tourism, arts...

Crew member of sunken ship still missing

MUKAH: There is still no sign of an Indonesian...

For slashing another, man gets five months in prison

SIBU: The Magistrates' Court here has fined a 37-year-old...

Worldwide network of cooperation among women

KUCHING: The Associated Country Women of the World (ACWW)...

SUPP rallies members to focus on development

BINTULU: Members of Sarawak United People's Party (SUPP) need...

Opportunities in Sarawak-Australia natural resource wealth

KUCHING: Deputy Premier Datuk Amar Awang Tengah Ali Hasan...

Woman jailed for two months for prostitution

SIBU: A woman opted for two months' incarceration as...

Drug abuse suspect in custody

BINTULU: Police arrested another local for allegedly engaging in...

10 units of shophouses razed

KABONG: A block of shophouses at Kampung Hilir here...

Convenience store destroyed in early morning blaze

MIRI: A double-storey convenience store premises at Jalan Kettleya...