- PETRONAS and the Terengganu State Government (via UPEN) signed an MoU to identify and assess sites for nature-based carbon projects
- Projects are intended to meet international certification standards to generate high-quality carbon credits
- Credits will be used to address residual and hard-to-abate emissions and to support PETRONAS' Net Zero Carbon Emissions by 2050 pathway
- Nature-based solutions focus on conserving, restoring and sustainably managing ecosystems to reduce and remove greenhouse gas emissions and provide benefits to local communities
MoU and signatories
PETRONAS and the Terengganu State Government, through the Terengganu Economic Planning Unit (UPEN), signed a memorandum of understanding to explore nature-based solutions projects; the MoU was signed by Giulia Sartori (Senior General Manager, Nature, Corporate Sustainability, PETRONAS) and Dato’ Mohd Azmi Mohamad Daham (Terengganu State Secretary).
Project scope
Both parties will identify and assess potential sites across Terengganu for nature-based carbon projects that meet internationally recognised certification standards, aimed at generating high-quality carbon credits while supporting environmental conservation and delivering benefits to local communities.
Technical approach
Nature-based solutions in this context include conserving, protecting, restoring and sustainably managing ecosystems to reduce and remove greenhouse gas emissions; projects are to follow international certification criteria for carbon credit quality.
Strategic purpose
The carbon credits are intended to address residual and hard-to-abate emissions and to complement PETRONAS’s Net Zero Carbon Emissions by 2050 pathway.
