KOTA KINABALU: The Sabah government would definitely get its share in the auction of carbon credits from the Kuamut Rainforest Conservation Project, said state Chief Forest Conservator Datuk Frederick Kugan.
Yesterday, Bursa Malaysia Bhd's subsidiary, Bursa Carbon Exchange (BCX) carried out its first Malaysian carbon credit auction involving Sabah forests.
When asked how the proceeds from the auction would benefit Sabah, Frederick said the profit sharing would be based on the agreement.
He added that Sabah Forest department has been working with its partners including Permian Malaysia and Yayasan Sabah on the matter.
"This is still too early in terms of looking at how much proceeds have we got here (the auction). There were a lot of other investments that were put in conserving the area.
"Since the forest is a state matter, I think the government will get a share in that. I do not want to share how much it is, but I think that will be revealed at a later stage," he told the media after the launching of Sabah Biodiversity Integrated Information System (SABIIS) and ISABIIS at a hotel here.
In May , BCX announced its maiden Nature-based Carbon Credits Plus (MNC+) derived from a domestic forestry initiative that is located in the Tongod and Kinabatangan districts of Sabah.
The project aims to conserve and rehabilitate 83,381 hectares of tropical forest.