THE government has pledged to ensure that the proposed levy rate for Carbon Capture, Utilisation, and Storage (CCUS) is competitive, appropriate, and aligned with international best practices.
The Bill was presented for its first reading in Dewan Rakyat today by Economy Minister Datuk Seri Rafizi Ramli, who said, the second reading of the bill will also take place during the current parliamentary session
As outlined in the blue copy distributed to Parliament, the CCUS Bill encompasses provisions for the capture, transportation, utilisation, and permanent storage of carbon dioxide, aimed at mitigating the impacts of climate change.
The implementation of the CCUS Bill is set to offer a range of benefits for Malaysia, not only contributing to mitigating the impacts of climate change but also presenting new avenues for economic growth.
This bill is expected to create job opportunities and play a key role in shaping a sustainable and resilient future for the country.
“Other than contributing to reducing the effects of climate change, this CCUS Bill also has the potential to be a new source of economic growth by creating new job opportunities and shaping a more resilient and sustainable future,” said Rafizi.
He added that the bill is seen as a pivotal first step in addressing climate change challenges and will help solidify Malaysia's position as a regional leader in low-carbon technology.
The government's commitment to achieving net-zero greenhouse gas (GHG) emissions by 2050 is central to this initiative.
Rafizi said Malaysia is dedicated to ensuring a just transition, ensuring that the shift towards sustainability will be in line with the economic interests of the country and equitable for all citizens.
“This CCUS Bill is expected to be the starting point for Malaysia in facing the challenges of climate change, thereby strengthening the country’s position as a leader in low-carbon technology in the region,” Rafizi stated.
He added, the government remains committed to balancing the nation's climate goals with the well-being of its people, focusing on an inclusive and economically viable approach to environmental sustainability. - March 4. 2025
