On Feb 9 2023, Pantas signed a contract with Bambusa Foundation to develop a nature-based voluntary carbon credit project in Malaysia. The project, led and executed by an all Malaysia team, marks a significant step in combating climate change and demonstrates the power of collaboration in accelerating the green economy.
Bambusa Foundation is a private foundation that advances forest, wildlife and human conservation in Malaysia. They have a forest concession in Perak, where they aim to conserve the ecosystem and promote sustainable land use practices by preventing logging and deforestation. Bambusa Foundation has engaged Pantas to assist and automate the process of developing a nature-based voluntary carbon credit project for this land. Bambusa will use the proceeds to preserve the rainforest and enrich the livelihoods of indigenous settlements in Peninsular Malaysia.
“Pantas aims to provide companies with a customized end-to-end climate solution which includes the calculation of carbon emissions to the reduction of emissions via emission reduction strategies or offsetting via carbon credit. With this project, Pantas aims to “close” the loop on carbon emissions calculations, from reporting to offsetting,” said Pantas CEO and Co-Founder, Max Lee.
The project is also in collaboration with FRIM (Forest Research Institute Malaysia), who will provide the technical expertise required to conduct carbon sequestration calculations. This will be FRIM's first carbon credit project. Pantas will assist Bambusa in developing the projects in compliance with the standards set by the Verra.
By preventing logging and deforestation of the land, the project will mitigate the effects of climate change and promote diversity among wildlife, flora and fauna. Additionally, the project will assist the indigenous communities by providing them access to necessities such as clean water, electricity and shelter.
As the first all Malaysian carbon credit project, Pantas, Bambusa Foundation, and FRIM believe that this partnership represents a major step forward in their shared efforts to tackle the urgent challenge of climate change. We are confident that this project will deliver significant and long-lasting environmental and social benefits to the local communities and contribute to the global effort in fighting climate change.