Nik Nazmi said this will be achieved through an interoperable carbon market across the region, creating a larger market for carbon supply and demand.

The Natural Resources and Environmental Sustainability Ministry (NRES), through the Malaysia Forest Fund, organised the ACF2024 - Development of Crediting Programme and Carbon Project in collaboration with the World Bank Group and Permian Malaysia, in conjunction with the International Greentech and Ecoproduct Exhibition and Conference Malaysia (IGEM) 2024 at the Kuala Lumpur Convention Centre (KLCC).

The forum aimed to initiate discussions on carbon crediting in a regional context, drawing significant participation from ASEAN countries such as Brunei, Indonesia, Thailand and Singapore.

It also attracted various stakeholders, including ministries, federal agencies, state governments, corporate entities, financial institutions, non-governmental organisations, project consultants, developers, validation and verification bodies, carbon crediting bodies and academics.

Previously, Bursa Malaysia introduced the ACCF concept, initiated by the Carbon Market Working Group under the ASEAN Business Advisory Council Malaysia (ASEAN-BAC-MY).