RM315 million annually from carbon forest activities

Date:

spot_img
By Neville Timothy Sanders

THROUGH forest carbon activities, Sarawak is expected to have a new source of revenues estimated at RM315 million annually.

Deputy Premier Datuk Amar Awang Tengah Ali Hassan said that this was based on the World Bank Carbon Price of USD 5.00 per tonne carbon with the estimation that 30 per cent of the permanent forests had carbon yielding carbon credit units at the rate of 200 tonne carbon/hectare.

“The private sector should embrace all these new opportunities presented to invest in schemes promoting forest carbon activities and other conservation and reforestation activities for carbon sequestration and carbon stocks for carbon credit units,” he said.

He added that the private sector should embrace all these new opportunities presented by the amendments and revise their business models.

“This is becasue logging and felling of merchantable timber will have to be reduced gradually to a sustainable level to mitigate the adverse environmental effects from logging,” he added.

Awang Tengah also said that the dynamics of the timber industry in Sarawak would  change with the passing of the bill through monetising our forest resources in a non-destructive manner.

“The state government therefore calls on the private sector to respond positively and give its support to this new approach towards sustainable forest management which is also in line with the strategic thrusts of the PCDS 2030,” he said.

For the record, the Forests (Amendment) Bill 2022 was unanimously passed today on the third day of the 19th Sarawak State Legislative Assembly (DUN).

State mega projects to go on

PADAWAN: While the federal government may delay its mega projects, Sarawakians can rest assured that state government-funded mega projects will continue to be implemented. The...

Share post:

Our Opinion

More like this
Related

Six months behind bars for contraband offence

SIBU: A 34-year-old man will spend the next six...

3,695 set to graduate from UNIMAS

SAMARAHAN: A total of 3,695 graduates will receive their...

Be wary of scam offers, remind police

KUCHING: People should always be wary of lucrative offers...

Two held in raid on stalls

BAU: Police arrested a man and a woman for...

3 arrested for pulling off ‘wheelie’ stunts

KUCHING: Three youths were arrested by traffic police for...

Looking forward to helping Sarawak

SAMARAHAN: The Commemorative Convocation of Universiti Malaysia Sarawak (UNIMAS)...

Stay united, deputy minister reminds Iban community

MIRI: Ibans have been reminded to stay united so...

SMC after coffee shops operating as bistros

SIBU: Sibu Municipal Council (SMC) has warned coffee shop...

Sim clans from Singapore, Johor visit Sarawak counterparts

KUCHING: The Singapore and Johor Sim clans paid a...

Gawai Bazaar makes more than RM800k

KUCHING: A minister applauded the success of the Gawai...

PRS yet to decide on Jugah’s return to party

KUCHING: The top leadership of Parti Rakyat Sarawak (PRS)...

Chance to promote Kuching at Santos UNESCO conference

KUCHING: A delegation from the Sarawak capital city will...