James Ligunjang
KOTA KINABALU (Sat Aug 12): Datuk James Ligunjang says he was never against the Nature Conservation Agreement (NCA) as it will bring benefits to Sabah by involving itself in carbon trading.
The former State Assemblyman for Petagas said economic opportunities Carbon trading would allow Sabah to monetise its efforts in reducing greenhouse gas emissions.
“By participating in carbon markets, the state can earn revenue by selling carbon credits or offsets generated through emission reduction projects. This can create additional income streams for Sabah’s economy, contributing to sustainable development,” he said Saturday.
Asked about his previous statements on NCA that he had some reservation on the projects, James said, “I was never against the NCA. I was just proposing a compromise to have a shorter period of lease. Unfortunately with shorter period of lease, we definitely be unable to undertake forward trading with the carbon credits.”
James pointed out that the controversy surrounding the NCA was similar to the construction of the Kaiduan Dam. Many NGOs and politicians opposed both projects for reasons known to them.
“However, some of the leaders who were against the construction of the dam are now turning a blind eye to the suffering of the people who are facing water supply problems and missed investment opportunities in Sabah,” he said.
According to James, if the Kaiduan Dam had been implemented ten years ago, Sabah would not be experiencing a daily shortfall of 221 million litres of water. Therefore, it is important for NGOs to reconsider and evaluate the benefits of the NCA for the future generation of Sabah.
He said economic opportunities of carbon trading allows Sabah to monetise its efforts in reducing greenhouse gas emissions.
Carbon trading refers to the market-based mechanism through which carbon credits can be bought, sold, and traded.
It allows countries, organisations, and individuals to achieve emissions reductions by purchasing carbon credits from entities that have successfully reduced their emissions. This system creates a financial incentive for industries to reduce their greenhouse gas emissions and promotes global efforts towards mitigating climate change.
“By participating in carbon markets, the state can earn revenue by selling carbon credits or offsets generated through emission reduction projects. This can create additional income streams for Sabah’s economy, contributing to sustainable development,” he added.
He further said carbon trading provides financial incentives for businesses and industries to reduce their carbon footprint. By participating in carbon markets, companies in Sabah will have a monetary motivation to adopt cleaner technologies and practices, leading to a reduction in carbon emissions.
This contributes to climate change mitigation efforts and helps achieve environmental targets.
James said Sabah is home to rich biodiversity and valuable natural resources. By engaging in carbon trading, the state can leverage its vast forests, which act as carbon sinks, to generate economic value. This incentivises the conservation and preservation of forests, promoting sustainable land use practices and protecting biodiversity.
According to James, Sabah’s involvement in carbon trading demonstrates its commitment to addressing climate change and sustainability. This can enhance the state’s international reputation as a responsible and forward-thinking jurisdiction.
“It can attract investments, collaborations and partnerships with entities that prioritize environmental stewardship, promoting sustainable development in Sabah, “ he added.
He also believed that engaging in carbon trading helps Sabah build climate resilience. By adopting sustainable practices and reducing emissions, Sabah is better equipped to adapt to the impacts of climate change.
“This includes managing risks associated with extreme weather events, sea-level rise, and temperature changes, enhancing the state’s ability to protect its communities and natural resources,” he said.
