KOTA KINABALU: The Kuamut Rainforest Conservation Project (KRCP) has achieved a milestone by generating its first tranche of verified carbon units.
The project is a public-private partnership between the Sabah Forestry Department, Yayasan Sabah and United Kingdom-based Permian Global's local subsidiary, Permian Malaysia.
Permian Global chairman Stephen Rumsey said the project's first Monitoring Report had been verified last month.
He added that the verification demonstrated the project's compliance with internationally-recognised standards for climate, community and biodiversity progress.
"The milestone enables the conservation initiative, aimed at protecting and restoring 83,381 hectares of tropical rainforest in the Tongod and Kinabatangan districts, to generate its first tranche of verified carbon units (VCU)," according to a statement issued today by the Sabah Chief Minister's office.
The project partners had recently paid a courtesy visit to Chief Minister Datuk Seri Hajiji Noor at Menara Kinabalu.
Present were Permian Malaysia chief executive officer Ivy Wong Abdillah, Yayasan Sabah director Datuk Ghulam Haidar Khan Bahadar and state forestry chief conservator Datuk Frederick Kugan.
Hajiji said the project was a testament to how the public and private sectors could collaborate in an impactful and transparent manner that engaged and empowered local community participation from the outset.
Permian Global had provided investment for the project that involved state authorities, besides scientific and community partners like the South East Asia Rainforest Research Partnership (SEARRP) and community-focused organisation PACOS Trust.
"Sabah is renowned for its biodiverse forests, and it is crucial that we do whatever is necessary to preserve them.
"I want us to build on the KRCP achievement, protect as much of our forest as we can, and lead the world in high-impact, scientifically robust conservation efforts that benefit not only nature but also the state and its people," said Hajiji.