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Malaysia’s Ministry of Natural Resources, Environment and Climate Change and Ministry of Economy have proposed new renewable energy initiatives to drive the development of the country’s renewable energy industry.

Malaysia’s state-owned oil and gas company Petronas is finalizing its acquisition of German developer Wirsol's renewable assets and pipeline in Australia, according to sources involved in the transaction.

Bursa Malaysia launched the country’s first voluntary carbon market (VCM) on December 9, with the first carbon credit auction to take place next March.

Malaysia is poised to become one of Asia's leading carbon markets, according to global consulting giant McKinsey & Co.

Bursa Malaysia will launch a voluntary carbon market (VCM) by the end of 2022. This will help increase transparency and enable companies to purchase carbon credits to offset their emissions.

JinkoSolar, one of the world’s largest solar panel manufacturers, has converted its entire Malaysian factory’s electricity consumption to renewable sources.

In the hopes of establishing a voluntary carbon market (VCM) in Malaysia, the Bursa Malaysia Exchange has signed a memorandum of understanding (MoU) with Verra, an international carbon credit standards body.