KUALA LUMPUR – Malaysia is mulling a carbon tax on future investments as part of efforts to tackle climate change, said Environment and Water Ministry Secretary-General Datuk Seri Zaini Ujang.
According to the World Bank, the tax directly sets a price on carbon by defining a rate on greenhouse gas emissions, or more commonly, the carbon content of fossil fuels.
Zaini did not elaborate on the plan.
To manage the risks posed by climate change, he said, a Climate Change Act might be drafted if policymakers and the public demand it.
“We could use the existing Environmental Quality Act 1974 along with (the new act),” he told the Cooler Earth Sustainability Summit 2020 webinar here yesterday.
He said the government is revising the Environmental Quality Act to include climate change and sustainability concerns, and mandate greenhouse gas management and reporting. – Bernama, September 23, 2020
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