By Karen Bong
KUCHING, Feb 16: Sarawak is looking forward to seeing an extension of tax incentives including for carbon capture and storage (CCS) in the upcoming federal Budget 2023 to energise the private sector to take action against climate change.
Deputy Minister of Energy and Environmental Sustainability Dr Hazland Abang Hipni emphasised that tax incentives, which was announced in the previous Budget prior to the change of government, will be useful and helpful for industries and companies across the whole economic sector.
“This is because CCS is a very capital intensive industry which will require technology and equipment.
“I will be seeing the Federal Deputy Minister of Finance next week on the matter next week,” he told a press conference to announce Asia Carbon Conference 2023 at a hotel here today.
Noting that the previous federal government had announced that Malaysia will give tax exemption to any activities related to climate change mitigation, Dr Hazland is hopeful to see such incentives being extended because Sarawak is ready to launch its carbon trading and storage activities.
“Sarawak is the first in Malaysia to have a regulatory framework for the region to embark in carbon trading. We have our rules, regulations and licensing.
“We are now in the process of drafting our carbon ordinance and hydrogen ordinance. Sarawak in fact is ahead of other states in Malaysia so that we can immediately take off (with) our carbon trading activities,” he said.
With Budget 2023 scheduled to be tabled on Feb 24, Dr Hazland emphasised that incentivising climate action is most important as this will motivate and support the private sector including companies and agencies to take climate change mitigation activities seriously.
The ministry’s permanent secretary Rusmaliza Mat Darus and Samling Group chief operating officer James Ho were also present. — DayakDaily
