KUALA LUMPUR: Bursa Carbon Exchange (BCX), a wholly-owned subsidiary of Bursa Malaysia, has entered into a strategic collaboration with the Malaysian Photovoltaic Industry Association (MPIA) in an effort to enhance Malaysia's voluntary renewable energy certificates (REC) market.

       In a statement, Bursa Malaysia said the partnership will focus on the joint promotion of solar RECs, enabling BCX to offer RECs trading to MPIA members, corporate entities and relevant stakeholders.

       It will also advance the market integrity and awareness of RECs ecosystem, focusing on the appropriate usage of RECs and addressing concerns related to double claiming by corporates, including transparent reporting on solar energy claims.

       Additionally, it would also focus on the exploration of potential solar RECs supply from MPIA members for the inaugural RECs auction, continuous trading and off-market transactions on BCX; and support for the prospective development of an Asean voluntary RECs framework.

       Said Bursa Malaysia CEO Datuk Muhamad Umar Swift: “The memorandum of collaboration with MPIA signifies our joint support in the implementation of the National Energy Transition Roadmap (NETR), and is a direct response to the growing corporate demand in Malaysia for RECs.

       "This is a crucial step forward in enriching our Exchange’s offering with solar RECs, following our recent collaboration with Sarawak Energy Bhd to include their hydro RECs in our suite of RECs product."