The National Corporate Greenhouse Gas (GHG) Reporting Programme for Malaysia (MYCarbon)
What is the project about?
Over the last few years, the fight against climate change has become one of the main topics of international debate, and is now identified as one of the greatest challenges human has ever faced.
Human activities such as burning of fossil fuels for energy generation and clearing of forests have been identified as the major causes of the Green house gases (GHG) emissions. Climate change mitigation measures such as energy efficiency practices and the use of renewable energy has become an immediate action in reducing carbon emissions however it continues as to be a challenge humanities are still depending on fossil fuels as the main recource of energy.
Climate change awareness and efforts are gaining the momentum internationally as well as in Malaysia. Mandatory and voluntary efforts in reducing emissions of GHG are observed from governmental to corporate and from non-governmental organisations (NGOs) to individual. During the United Nations Climate Change Conference known as COP 15 which was held in December 2009, Copenhagen, Denmark, the Prime Minister of Malaysia announced the country voluntary initiative to achieve up to 40 % reduction in emissions intensity of GDP by 2020 based on 2005 level with conditions that technology transfer and financial support provided from developed countries.
Inline with the outcomes of the global negotiation during the UNFCCC COP meetings, increasing public awareness on climate issues which lead to a change in green consumerism has also been anticipated. For example, consumers are increasingly concerned on the environmental impacts of the of the products and services they purchased. At the corporate level, many companies, business associations and NGOs are now starting to monitor their GHG emissions, prepare abatement actions and assess climate risk through their internal management accounting and control systems. Reporting on carbon emissions has become increasingly important to global investors who concern for climate change and its related risk.
In Malaysia, companies and institutions already voluntarily report their GHG emissions and the information is included in their Annual Reports or Annual Sustainability and Corporate Responsibility Report. In view of the growing important of carbon accounting and reporting, a 6-month project on developing a national carbon disclosure programme (NCDP) framework is commenced by Ministry of Natural Resources and Environment (NRE) and United Nations Development Programme (UNDP) Malaysia in year 2012.
In August 2013, again the NRE and UNDP Malaysia initiated a 2-year programme for a National Corporate Greenhouse Gas (GHG) Reporting Programme for Malaysia (also known as MYCarbon). Through such reporting, it allows the ministry to measure progress toward achieving the emissions reduction indicator announced by the Prime Minister of Malaysia.
What do we hope to accomplish?
The outcome of the project for the first year saw 23 private companies commit to reducing their GHG emissions through voluntary reporting. In December 2014, the programme held its first ceremony to acknowledge and award the companies for their efforts and provided a platform for knowledge sharing. UNDP is targeting 50 companies to join the programme by end of 2015.
The Objectives of the programme are:
- Set up a globally recognised, standard corporate GHG accounting and reporting programme in Malaysia
- Data source for analysis and development of local emissions factors
- Encourage corporate level carbon accounting and emissions reductions
- Provide standards, guidance and support measures
Who finances it?
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