For this episode, the Carbon Exposure Project traveled to Kuala Lumpur to visit the Bursa Malaysia Carbon Market Forum 2024. We sat down with the head of carbon markets at Bursa Malaysia, Dr. Wei Nee, to talk about ongoing carbon market developments in Malaysia and Asia.

Bursa Malaysia led the development and implementation of a Malaysian carbon market framework, leading to the launch of the Bursa Carbon Exchange, BCX, in December 2022. BCX offers a diverse portfolio of standardized carbon credit products, differentiating between nature-based and technological solutions that mitigate emissions. With two recent auctions for carbon credits and Renewable Energy Certificates (RECs), BCX effectively focuses on these two key verticals, enhancing its market offering.

As Malaysia and other Asian countries prepare for COP, Bursa Malaysia is taking an active role in fostering regional collaboration. Dr. Wei Nee shares insights on how they intend to work with neighboring countries like Thailand, Indonesia, and Singapore to build a unified Asian carbon framework.

Join us as we dive into the evolving landscape of carbon markets in Asia and explore how Malaysia is positioning itself at the forefront of this critical transition.

Timestamps:

00:00 Introduction to Wei Nee, Bursa Malaysia, and BCX

03:02 The Diverse Portfolio of BCX

08:28 Creating an Ecosystem at BCX

11:28 Key Takeaways from the Carbon Market Forum

15:12 Why Are Carbon Markets Not Allowed to Evolve?

17:39 Carbon Collaboration Within the ASEAN Region

23:25 The Domestic Ambitions of BCX

27:55 BCX’s Expectations for COP29

29:30 Advancing Carbon Project Financing as a Multi-Asset Exchange

37:46 End Note