Slow implementation of carbon pricing in Malaysia could hinder the country's ability to compete internationally and remain competitive in low-carbon product markets. Failing to implement a comprehensive national carbon tax, carbon tax with a clear price pathway and revenue allocation could result in weakened competitiveness in the long term.
Delays in implementing carbon pricing in Malaysia could weaken its long-term competitiveness, but a comprehensive national carbon tax could reduce emissions without severely harming economic growth.
Global experience suggests that carbon pricing encourages cleaner technologies and reduces emissions. A gradual and transparent carbon tax structure benefits businesses and households. One estimate puts Malaysia's social cost of carbon (SCC) at RM92 per tonne of CO2 in 2025, with the potential for even higher damages under a business-as-usual scenario. Calculating the effective carbon price to ensure polluters bear the true cost of emissions and support decarbonisation is crucial.
South Korea's Emissions Trading Scheme (KETS) is a successful example, providing a strong foundation for Malaysia. Effective carbon pricing in Singapore, with rising tax structures, serves as a regional model
Climate Change Global Competitiveness Carbon Pricing Iron And Steel Sector Exports Decarbonization South Korea's Emissions Trading Scheme Emissions Trading System
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