KOTA KINABALU, Aug 18 — Sabah intends to leverage its status as a carbon-negative state to become a carbon value state through the conversion of natural capital into sustainable economic value, said Sabah State Secretary Datuk Seri Zainudin Aman.
He said the state’s natural capital endowments such as tropical rainforest assets, mangrove areas and rich marine resources need to be translated into tangible job creation and increased income for local communities.
“Sabah not only wants to become a carbon negative state, but also wants to become a carbon value state, which is a state that is capable of converting natural wealth into economic value, job opportunities and community well-being,” he said here today.
He said this when opening the Sabah Sustainability and Carbon Economy Seminar here which was also attended by Sabah Economic Development and Investment Authority (SEDI) chief executive Datuk Seri Hashim Paijan.
Zainudin said the state’s Environmental, Social and Governance (ESG) agenda was also aligned with Malaysia’s commitment to achieve a Net Zero Carbon Emissions target by 2050 and a 45 per cent reduction in greenhouse gas emission intensity by 2030.
He urged all government officials, agencies, Government-Linked Companies (GLCs) and Small and Medium Enterprises (SMEs) in the state to participate in the ESG exposure programme organised by Universiti Malaysia Sabah (UMS) and Sedia to strengthen their understanding of carbon management.
Elaborating further, he explained that the state’s carbon credit development potential could be strengthened through nature-based solutions such as mangrove restoration, forest conservation and agroforestry projects.
“Apart from the carbon economy, Sabah has great potential to become a leader in the Blue Economy in the ASEAN region through the development of marine biotechnology, sustainable aquaculture and marine ecosystem-based tourism,” he said.
He added that the involvement of international strategic partners as well as the exploration of climate finance instruments such as Green Bonds and Blue Bonds would accelerate the state’s transformation as a major destination for sustainable investment.
