FAM Wee Wei’s Post

🌳 Congratulations to Bursa Carbon Exchange on the successful conclusion of the 3rd Malaysia Carbon Market Forum! Dato’ Fad'l Mohamed Dr. Wei-nee Chen 📌 During the panel on ASEAN Carbon Market Policies with Undersecretary Ahmad Farid bin Mohamed of NRES, Dr Wahyu Marjaka of KLH, and Albert MAGALANG of DENR, I shared Singapore’s experience in signing Article 6 Implementation Agreements, framed around two aspects — (1) doing the right thing and (2) doing it right. 💚 Doing the right thing means aligning with host countries’ Nationally Determined Contributions (NDCs) and ensuring that international collaboration supports their climate goals. It also means upholding environmental integrity — ensuring carbon credits are additional, real, permanent, verified, and not double-counted. We believe mitigation and adaptation can go hand in hand — that’s why 5% of proceeds from each transaction under our IAs go to the host country’s adaptation fund. 🎯 Doing it right requires the 3Ps: 1️⃣ Political Commitment – Clear buy-in between host and acquiring countries, anchored on their respective NDCs. Within each country, both federal and state alignment is crucial for consistency and investor certainty. 2️⃣ Predictability – Robust governance and transparent authorisation processes give investors confidence that rules on approvals and corresponding adjustments remain clear and stable. 3️⃣ Private Sector Participation – Private capital drives scale. Investor protection and clear dispute resolution mechanisms ensure that project developers have recourse, enhancing the host country’s attractiveness for long-term investment. By doing the right thing and doing it right, we can make Article 6.2 cooperation both effective and impactful. Thank you Jack Chong for capabably moderating the panel session today👍🏻 and appreciation to BCX for your warm hospitality and wonderful showcase of the highly talented BCX band during welcome dinner. 👍🏻 👍🏻 Ministry of Trade and Industry (Singapore)