PETRONAS has signed a memorandum of understanding with the Sarawak Forestry Corporation, a statutory body of the Sarawak Government, to explore and develop Nature-based Solutions projects in the region. The MoU reflects a shared commitment to the conservation and restoration of natural ecosystems as a means to remove greenhouse gas emissions.
Nature-based Solutions encompass activities that conserve and restore natural environments, offering a sustainable approach to carbon sequestration. These projects must adhere to high-quality standards, ensuring they meet internationally recognised certification criteria.
The MoU outlines plans for both parties to identify and explore potential sites in Sarawak suitable for NbS projects. These initiatives aim to generate co-benefits for local communities and biodiversity while fostering the development of local expertise necessary for successful implementation. The carbon credits generated through NbS will play a critical role in helping PETRONAS offset residual and hard-to-abate emissions, supporting the company’s pathway to achieving Net Zero Carbon Emissions by 2050. In line with the carbon mitigation hierarchy, the focus remains on reducing emissions after first taking steps to avoid them.
The agreement was formalised by PETRONAS Senior general manager (strategy, policy, & regulation), corporate sustainability, Wan Sayuti Wan Hussin, and Sarawak Forestry Corporation general manager, Tuan Abang Arabi Abang Aimran. The signing ceremony was witnessed by Sarawak premier Datuk Patinggi Tan Sri (Dr) Abang Haji Abdul Rahman Zohari Bin Tun Datuk Abang Haji Openg and PETRONAS vice president & chief sustainability officer, Charlotte Wolff-Bye.
Wolff-Bye emphasised the importance of collaboration in achieving sustainability goals, stating, “Malaysia is one of the world’s most biologically diverse countries. As we progress in our journey towards net zero carbon emissions by 2050, it becomes imperative to seek collaborative efforts in Nature-based Solutions that help to sequester carbon emissions and support Malaysia’s forests. We are delighted to work together with the Sarawak Forestry Corporation to facilitate the development of NbS projects. This collaboration allows PETRONAS to unlock the potential of NbS in Sarawak and use it to sustainably support the natural environment, address emissions, and uplift local communities.”
Abang Arabi expressed optimism about the partnership, highlighting its potential for long-term collaboration in NbS site identification. “Conservation is a marathon that requires not only scientific expertise but also commitment and sustained conservation funding. PETRONAS has collaborated with us on several conservation projects over the years, including two coral reef conservation projects – the Beacon project in Bintulu and the Miri-Sibuti Coral reef conservation project in Miri,” he said. “We look forward to continuing this partnership with PETRONAS and working together to protect natural habitats through this NbS exploration in Sarawak.”
The collaboration between PETRONAS and the Sarawak Forestry Corporation marks a significant step towards enhancing the conservation and sustainability of Sarawak’s rich natural resources, contributing to global efforts in climate change mitigation.
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