Gloyta Nathalang, the dynamic Senior Executive Vice President of Sustainability Management and Corporate Communications at Bangchak Corporation Plc., recently brought her expertise to the forefront at the 2nd Malaysia Carbon Market Forum 2024. Organized by the Bursa Carbon Exchange in the bustling heart of Kuala Lumpur, Malaysia, this forum carried the critical theme of “Empowering Climate Actions through Carbon Market.” Spanning the 7th and 8th of August, the event was a hub for innovative discussions on environmental sustainability.
On the 7th of August, Gloyta stepped into the ASEAN-BAC Malaysia Closed Door Roundtable Meeting, sharing insights from her journey in founding the Carbon Markets Club in 2021. This initiative aims to bolster carbon credit trading in Thailand’s voluntary carbon market. The roundtable was a collaborative brainstorm, with participants mulling over the prospect of forming an ASEAN Common Carbon Framework (ACCF). This ambitious framework is envisioned to cultivate a cohesive regional carbon market ecosystem, thereby strengthening the bonds among ASEAN member states.
The forum heated up on the 8th of August during the plenary session, aptly titled “Creating a High Integrity ASEAN Carbon Market.” Here, Gloyta joined a panel of distinguished experts from Malaysia, Indonesia, and Vietnam. Together, they delved into the intricacies of developing a robust and reliable carbon credit market within ASEAN. This session further spotlighted the potential of the ASEAN Common Carbon Framework in driving the region’s carbon neutrality strategy forward, setting the stage for meaningful climate action.
Post-panel, Gloyta took time to engage with the media, offering deeper reflections on Thailand’s voluntary carbon market. She passionately emphasized how regional collaboration is indispensable for the advancement of ASEAN’s carbon market. According to Gloyta, the ASEAN Common Carbon Framework (ACCF) is a linchpin in the collective effort to meet regional climate objectives.
The forum was also notable for the grand unveiling of the Malaysia Carbon Market Association (MCMA). This new association is set to play a pivotal role in promoting and accelerating the growth of Malaysia’s carbon market, marking a significant stride towards sustainable development in the region.
It’s great to see regional cooperation on such an important issue, but will this really move the needle or just be a lot of talk?
That’s a fair point. A lot of these frameworks end up being all talk and no action. If ASEAN countries don’t implement robust mechanisms, this could be just another failed initiative.
Totally agree. I think these meetings are just for show. Let’s see some actual, measurable outcomes first.
True, but the unveiling of the Malaysia Carbon Market Association seems like a step in the right direction, don’t you think?
Is anyone else concerned about the potential for corruption in a regional carbon market?
Absolutely. Whenever there’s money involved, especially in something as complex as carbon credits, there’s always potential for misuse.
Corruption is a valid concern, but that’s why it’s critical to have transparency and strict regulations. The ACCF could help with that.
True, it’s just that enforcement has to be ironclad. We’ve seen too many environmental initiatives get derailed by shady practices.
Gloyta Nathalang’s leadership here is inspiring. She’s been successful in Thailand; she could really drive change across ASEAN.
She has a lot of good ideas, but one person can only do so much. It takes collective action and political will.
Exactly. We need more leaders like her, but we also need governments to step up and commit to real changes.
Agreed. If more leaders adopt her approach, maybe we will see tangible progress.
Voluntary carbon markets are essentially toothless. Without mandatory regulations, these kinds of markets will never reach their full potential.
Voluntary markets might be a starting point. They can pave the way for stricter policies in the future. Don’t dismiss them entirely.
I think it’s a balance. Voluntary markets can build momentum, but at some point, we need laws with some teeth to enforce real change.
I’ll believe it when I see it. Too many corporations will take the easy way out if there are no binding commitments.
The overall tone of the forum seems optimistic, but isn’t the pace of progress too slow considering the urgency of the climate crisis?
Absolutely. We’re running out of time. These discussions need to translate into rapid action.
Exactly. The sense of urgency isn’t being matched by the speed of implementation. We need to move faster.
Right. We can’t afford any more delays if we’re serious about avoiding the worst impacts of climate change.
I think it’s wonderful to see so many Asian countries collaborating on climate action. Go ASEAN!
Unity is key! We need to address this issue as a global community.
Indeed! Together, we can achieve more.
If history is any indication, regional initiatives like this rarely amount to anything substantial. It’s all fluff.
Not necessarily. There have been successful regional initiatives before. It depends on the dedication and cooperation of the countries involved.
Yeah, but how often do we really see that level of cooperation? Rarely. Actions speak louder than words.
Will the MCMA really make a significant impact in Malaysia’s carbon market or is it just another bureaucratic entity?
Depends on how it’s managed. If they push for strong policies, it could be very impactful. Time will tell.
I hope you’re right. We need effective institutions to drive these changes.
ASEAN countries working together gives me hope for the region’s future. The climate crisis requires all hands on deck.
Will ordinary people even feel the benefits of these markets? Seems like it’s all for the big corporations.
Good question. The benefits will trickle down only if the frameworks are designed to include local communities. Otherwise, it’s just a corporate game.
I agree. I just hope these initiatives don’t leave the little guy in the dust.
From an academic standpoint, this initiative is fascinating. Creating a cohesive ASEAN carbon framework could be a model for other regions.
Absolutely. If successful, the ACCF could indeed be a blueprint for similar initiatives globally.
Let’s not jump the gun. It’s still in the early stages. Lots of work to be done.
True, there’s a long way to go. But a successful model here could certainly influence future frameworks.
How does this help with actual climate change if big polluters can just buy their way out of responsibility through carbon credits?
That’s the crux of the issue with carbon credits. It can be seen as a way for companies to avoid making real changes.
But if managed well, carbon credits can fund essential green projects that might not otherwise get financing.
I’m still skeptical. Real emission cuts should be the focus, not just offsets.
I’m worried that this focus on carbon markets is ignoring other important areas of environmental protection.
Having a carbon market in place is a vital part of the bigger picture, but it shouldn’t overshadow the need for broader environmental policies.
Exactly. A comprehensive approach is essential. Carbon markets are just one tool in the toolbox.