Experts say the National Carbon Market Policy can create demand for carbon accountants, engineers, auditors and data specialists, but workers will need upskilling.
The Malaysian Green Technology and Climate Change Corporation (MGTC) said the policy could stimulate demand for carbon project developers and greenhouse gas (GHG) specialists. Apart from that, there would be a need for measurement, reporting and verification (MRV) specialists, as well as validation and verification professionals.
Engineers, technicians, data scientists, auditors, sustainability professionals and legal and financial experts with carbon-market knowledge could also benefit as the market develops.
“What is clear is that the NCMP has the potential to develop a new pool of green skills and professional capabilities across the carbon value chain,” MGTC told FMT.
It said a biogas carbon project, for example, could require engineers and plant technicians alongside methane-monitoring specialists, emissions experts, independent verifiers and financial professionals.
Forestry carbon projects could similarly generate demand for experts in forest care, ecologists, geographic information system specialists, field workers and remote-sensing experts.
However, MGTC said it was too early to estimate how many jobs the NCMP could create over the next three to five years.
“This would depend on the pace of implementation, investment mobilisation and the number and scale of carbon projects developed,” the government agency added.
While it is still unclear how many jobs can be created by the implementation of the NCMP, experts have estimated that Malaysia’s broader green transition could lead to the emergence of at least 300,000 new jobs by 2050.
The opportunity is already taking shape, with RM7.88 billion in green investments in 2024 generating more than 2,000 green jobs – in line with the Natural Resources and Environmental Sustainability (NRES) 2024-2030 Strategic Plan.
Environmental economist Norlida Hanim Salleh of Universiti Kebangsaan Malaysia said this would require changes to education and training for future workers.
Those already in the workforce would also need to upskill so their existing expertise can be applied to areas such as carbon accounting, auditing, green project development and low-carbon technology.
“There is a need for adjustments in our education syllabus. For example, in accounting, they can introduce a syllabus that gives students exposure to carbon accounting or auditing.
“Similarly, in economics and management, we can start introducing courses on green project analysis, environmental, social and governance (ESG) policies and more to ensure they acquire the skills that will be in demand soon,” she told FMT.
The NCMP was launched by natural resources and environmental sustainability minister Arthur Joseph Kurup on April 21 to provide a national framework for a more structured carbon market and encourage investment in low-carbon and carbon projects.
The objective is to regulate carbon trading and support the country’s shift towards a low-carbon economy.
Clear rules, coordination key to success
Carbon-market specialist Aurora Tin said that apart from developing enough skilled workers, the NCMP’s success would hinge on clear laws, coordination between governments and adequate supporting infrastructure.
She said the proposed Climate Change Bill would help clarify which authorities are responsible for regulating the system.
“Strategic coordination through NRES, as the designated national authority (DNA), and the national decarbonisation committee (NDC) is vital to effectively harmonise federal policies with state-level jurisdictions,” she said.
The DNA is the government authority that approves Malaysia’s participation in international carbon-credit projects, while the NDC brings federal and state governments together to coordinate the country’s broader shift towards a low-carbon economy of net-zero GHG emissions.
Such coordination is important as Sabah and Sarawak already have their own laws governing climate change and carbon activities, while land and forests largely fall under state jurisdiction.
At the same time, the federal government is responsible for Malaysia’s international climate commitments, making it necessary for the national carbon market to work alongside state-level rules without overlapping requirements.
Tin said sufficient funding would also be needed to develop infrastructure such as the digital carbon registry, which will be used to record and track carbon credits and support Malaysia’s participation in international carbon markets.
She said greater public awareness and the involvement of other stakeholders would also be necessary so people understand how the system works.
This includes ensuring local and indigenous communities are involved in carbon projects and benefit fairly from them, she added. - FMT
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