Kuala Lumpur, 17 September 2024 – Bursa Carbon Exchange (“BCX”), a wholly-owned
subsidiary of Bursa Malaysia Berhad (“Bursa Malaysia” or the “Exchange”), is pleased to
announce the successful go-live of its renewable energy certificates (RECs) continuous
trading on 9 September 2024. This extends its previous RECs auction capability and
includes the facilitation of off-market transactions on its platform.
This development marks a significant milestone as BCX expands its trading offering from
voluntary carbon credits to now include voluntary unbundled RECs. It reinforces BCX as a
one-stop, Shariah-compliant, multi-environmental product exchange, democratising
access and creating new opportunities for the market through additional asset classes,
investment, and trading choices.
Additionally, BCX’s offering of Malaysian RECs has grown from only hydropower REC
previously, and will also include RECs generated from solar photovoltaic, bioenergy and
small-hydropower sources. This diversification in the RECs-product range will allow local
corporates to select RECs based on their specific preferences based on their Scope 2
emissions reduction needs. All RECs are issued under the I-REC Standard, a globally
recognised standard body, and adhere to the International Attribute Tracking Standard,
managed by the I-TRACK Foundation (formerly known as the I-REC Standard). The BCX
trading platform is accredited by the I-TRACK Foundation, with BCX being the first
Malaysian trading platform operator, and one of only eight globally, to receive this
accreditation.
The platform will enable participants to conveniently trade both carbon credits and RECs.
“We are pleased to offer this opportunity for companies to take proactive steps in their
sustainability journey,” said Datuk Muhamad Umar Swift, Chief Executive Officer of Bursa
Malaysia. “The BCX platform provides a seamless and efficient way for businesses to
procure environmental assets such as RECs and carbon credits, supporting their
commitment to reducing carbon footprints and promoting renewable energy and
decarbonisation projects.”
“The availability of RECs continuous trading facilitates the increased adoption of
renewable energy in Malaysia, contributing towards objectives in Malaysia’s National
Energy Transition Roadmap (NETR),” added Datuk Muhamad Umar. “Enabling the trading
of RECs encourages more renewable energy projects by making them more financially
viable and attractive to investors, which supports accelerating the nation’s transition
towards a low-carbon economy.”
The healthy interest and price signals shown by the domestic corporate sector during the
inaugural auction of RECs1, and commencement of continuous RECs trading, has
demonstrated local market demand for a transparent pricing mechanism and enhanced
accessibility to unbundled RECs.
The Exchange encourages corporates to onboard onto the BCX platform without delay.
Early onboarding provides benefits such as competitive trading fees, and positions
corporates to be well-prepared for their emissions reduction plans and year-end
sustainability reporting.
For more information on how to onboard and to start trading, contact BCX at
https://bcx.bursamalaysia.com/web/contactus
About Bursa Malaysia
Bursa Malaysia is an Exchange holding company incorporated in 1976 and listed in 2005.
It has grown to be one of the largest bourses in ASEAN. Today, Bursa Malaysia operates
and regulates a multi-asset exchange, offering a comprehensive range of investment,
capital raising, and exchange-related facilities. Bursa Malaysia is committed to its mission
of Creating Opportunities, Growing Value for the Malaysian capital market, economy, and
society. Learn more at bursamalaysia.com.
About Bursa Carbon Exchange
Bursa Carbon Exchange (BCX), a subsidiary of Bursa Malaysia, is a global spot exchange
that enables corporates to take practical climate mitigation action through the trading of
carbon credits and RECs from projects with measurable climate action outcomes that
adhere to the international standards. The carbon exchange was incorporated in 2022 and
is operated by Bursa Malaysia Carbon Market Sdn. Bhd.
Visit https://bcx.bursamalaysia.com for more information.
