Carbon Trading and Sustainable Development Goal 13: The Malaysia Perspectives

Abstract

Nations worldwide have made significant progress toward sustainable development due to climate change. As a result of the increased emphasis on achieving a wide range of economic, social, and environmental objectives, firms have begun to realign their operations toward cleaner production processes. Due to the carbon market’s anticipated evolution over time, carbon trading development has experienced significant changes that require ongoing innovation and involvement to achieve Sustainable Development Goal 13 (SDG 13). Malaysia has implemented various strategies for mitigating climate change. However, the country’s development needs to be aligned with the national economy. This research examines the scope of the SDG 13 framework on carbon trading implementation in Malaysia as well as past and ongoing clean development mechanism projects in the energy, forestry, and agriculture sectors. According to the analysis, the project’s adaptability and growth are consistent with SDG 13’s goal of lowering carbon emissions. This study exposes the project’s challenges, opportunities, contributions and impacts.