ARTICLE

Insight

Sustainability Agenda

Bursa Malaysia to launch Voluntary Carbon Market for carbon credit trading between green asset owners and other entities transitioning towards low-carbon practices.

 

BNM to provide a Low Carbon Transition Facility with a fund value of RM1 billion to assist SMEs adopt sustainable and low carbon practices.

 

RM450 million for environmental and biodiversity initiatives such nature conservation, empowering the involvement of local communities, army veterans and Orang Asli as biodiversity guardians, assistance for zoo operating costs, increasing the breeding of Malayan Tigers, preserving the survival of endangered species, Tree Planting Campaign, and grants to related stakeholders.

 

RM70 million of Ecological Fiscal Transfer (EFT) to be allocated yearly for the conservation of biodiversity and strengthening EFT implementation mechanism.

 

RM14 million to the United Nations Development Programme to support its various initiatives such as creating safe tourism and restoration activities.

 

RM10 billion from Government’s issuance of Sustainability Sukuk to be channelled to eligible social or environmentally friendly projects.

 

Government to provide import duty, excise duty and sales tax exemptions on electric vehicles (EVs) to support the development of the local EVs with Energy Efficient Vehicle industry.

  • Road tax exemptions of up to 100% will also be given to the vehicle owners.
  • Individual income tax reliefs of up to RM2,500 will be given for the purchase and installation, rental and hirepurchase of EV charging facilities as well as payment of EV charging facility subscription fees.

 

RM7,000 tax relief undertaking approved professional courses including ESG-related courses.

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Author(s)

Ahmad Izwan Adnan
Partner,

Advisory and Corporate Finance


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