Hoping for a greener Budget 2025

Green Budget News

Hoping for a greener Budget 2025
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KUALA LUMPUR: Environmentalists and biodiversity experts are eagerly anticipating Budget 2025, set to be tabled on Oct 18, with hopes that the government will continue advancing the nation’s environmental protection agenda.

President of the environmental non-governmental organisation Sahabat Alam Malaysia, Meenakshi Raman, emphasised the need for increased allocations for the Ecological Fiscal Transfer for Biodiversity Conservation incentive. "Otherwise, they may be tempted to convert forests to other uses such as logging or plantations in search of more revenue," she said.

Malaysia Forest Fund Chairman, Dr Yasmin Rasyid said Budget 2025 should also include financing facilities to support the pilot implementation of additional carbon projects across the country. "Carbon credits generated from projects can be bought and sold in carbon markets, either voluntarily or in compliance with regulatory requirements.

"This aligns with the envisioned whole-of-nation approach, which enables the government to achieve its aspirations, relying significantly on public-private partnerships.

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