45 years on: Carbon credit no more an academic concept

As Malaysia steps into a new era of economic and environmental transformation, the concept of a carbon economy is no longer a far-off idea — it’s becoming one of the most important conversations for every citizen and business. 

Few months ago, a former MNC oil and gas was sharing of his initiative into carbon trading venture with a state authority. It was inspiring to finally hear a concept first heard 45 years ago from friends taking up elective in environmental economics back in the US 45 years and years later from an engineering student is now operationalise.       

A recent article, “Decoding Key Pillars of the Carbon Economy” in The Star explored how carbon is shifting from being simply a waste product to becoming a tradable asset, a tax base and a new frontier for growth. 

It is especially timely in light of several major shifts here in Malaysia. Under the leadership of Najib Razak, Petronas began re-imagining its role – moving away from purely fossil-fuel extraction toward investments in renewables such as solar, hydrogen and other lower-carbon pathways. Its 2013 Annual Report was entitled re-imagining energy. 

At the same time, the administration of Anwar Ibrahim has launched a fresh economic push, signaling that Malaysia’s next chapter must be driven not just by extraction of raw materials but by clean tech, innovation, and sustainability. 

This matter to all because the carbon economy isn’t just for big companies or scientists: it has real implications for jobs, industries, and the way we all live. When carbon emissions are measured, valued, taxed or traded, that changes the rules of the game. 

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The strange world of digital money

For quite a while, this old timer been struggling the understand the strange new terms coming in business. 

Coming from a traditional banking and finance background, its mind boggling to appreciate the derivation of value from electronic mining for digital money and the mechanics of its infrastructure. 

Faced with the mental roadblock of understanding blockchain, yours truly procrastinated for years by hiding behind new interests such as geopolitics, logistics and macroeconomics.  

Recently a Tik Tok video of a beautiful young lady, which could either be AI or an actual person, explained the conspiracy behind Trump's issuance of Stable Coins to support the US dollar and transfer the American debt. Now stand at US$37 trillion and rising by a trillion every 100 days. 

That is something of interest to yours truly and revived interest to revisit the subject with more earnest effort to learn. 

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The need for economic literacy

On Budget Day last Friday, Member of Parliament for Bachok, Syahrir Sulaiman called the budget as limping or "tempang" in Malay. It can be misconstrued to also mean handicap, but its him expressing concern on the moderate growth that generate limited fiscal leeway for development. 

Yesterday, Opposition Leader, Hamzah Zainuddin created controversy with Perikatan Nasional counter offer for cash-aid of RM6,000 annually without restrictions and more free education programs. He raised other pertinent issues on the RM50.8 billion development expenditure by GLC and GLIC, lower Petronas dividend of RM20 billion, and somewhat in-sync with government concern on taxation, national revenue, etc. However, it is the cash-aid remark that attracted attention and suspected to be intended to viral. 

The math does not add up and criticised as populist rhetoric. Spending on STR and SARA for 2025 is RM15 billion and for 2026 budget is RM15 billion. Hamzah's plan means allocating  RM51.6 billion for the 8.6 million recipients!

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Sabah PRN17: Realising the Generational Change politics

At the 16th Sabah state election, there was excitement over Parti Cinta Sabah led by Tan Sri Anifah Aman. For a newly formed party, PCS had the ambition and audacity to contest in all the 73 seats. 

Though failed to secure any seat with the President himself losing  at Bongawan in the Kimanis Parliamentary he represented as MP, it was the manifestation of a desire for change by the non-partisan bloc of young, urban and educated voters.   

In January 2023, Kinabalu Move attempted to emulate the 2020 Sheraton Move, which toppled PH Federal government, but failed. Eleven BN state assemblymen did not participate and joined the 38 others from GRS, STAR, PBS, KDM, and PH to support Hajiji Noor as Chief Minister.      

The assemblymen refused to be part of another coup d'etat, in which the earlier move thwarted by then Chief Minister Shafie Apdal resulted in the snap state election of 2020. 

Bung Mokhtar still justify the move, but it signaled younger politicians' reluctance to repeat past habits in favour of rational and stable politics. Progressively generational change politics was coming to light. 

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ASEAN at the Crossroads: Five global forces shaping our future

By Aparna Bharadwaj and Munal Rathore
Boston Consulting Group (BCG)

August 25th 2025 The ASEAN

The world is undergoing unprecedented transformation. In the decades ahead, ASEAN must harness its economic foundation, leverage its diversity, and cultivate future-ready talent to navigate crucial crossroads.

A multipolar world, shifting global trade dynamics, rapid technological advancements, the intensifying climate crisis, and rapid demographic changes are trends that pose formidable challenges—but also create immense opportunities.

ASEAN’s path to lasting prosperity, resilience, and global relevance demands a bold, forward-looking vision, one that not only addresses today’s disruptions but also anticipates the opportunities of tomorrow. 

This vision underpins the ASEAN Economic Community (AEC) Post-2025 Study, Towards AEC 2045: Options and Potentials, completed in 2024. Insights from this landmark effort have informed the development of the AEC Strategic Plan 2026-2030, a strategic and future-oriented roadmap to help ASEAN navigate uncertainty and realise its long-term potential. 

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Can Anwar survive the economic phase where Pak Lah and Najib falter?

Malaysia relied on expansionary spending during downturns such as the Asian Financial Crisis of 1997-99, recession that followed the Sub-Prime financial crisis of 2008, and Covid 19 Pandemic. Usually, it failed to do the necessary post-crisis fiscal consolidation, thus embedding fiscal deficits permanently. 

From a debt level of less than 30% of GDP, it has shot up to near 65% under Muhyiddin’s brief Langkah Sheraton PN-led administration in 2020. In addition to the rising debt, many countries are faced with a common situation of post-pandemic fiscal constraint of rising inflation, and shrinking current account balance yet the political narrative is too distanced from the increasingly disturbing economic realities. 

In advance economies faced with high debt situations, the political discourse is often dominated by short-term incentive than its long-term fiscal sustainability. For emerging economies such as Malaysia, fiscal tightening is politically painful that government tend to delay it until a major crisis forces some form of serious action. 

It was merely post-crisis fiscal consolidation undertaken by late Abdullah Badawi and Najib Razak but it led to them both to lose the premiership. So will Anwar Ibrahim face the same fate at the current post Covid 19 consolidation phase of the fragile Unity Government he led?  

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What is the motivation of US millitary action near Venuzuela?

On September 2nd, 2025, US millitary action on a vessel from Venuzuela killed 11 people claimed to be carrying illegal drugs. The US conducted at least three military attacks on vessels in international waters said to be carrying narcotics en route to the United States.

Venezuela strongly denied involvement in facilitating large-scale trafficking of narcotics to the US. 

Critics question the evidence for US claims, whether the Venezuelan state is complicit at a high level, and whether these strikes conform to international law especially when lethal force used in international waters without clear judicial process. Venezuela government accused US actions are false-flag operations. 

For an anti-drug operations push, the US moved warships, fighter jets (including F-35s), and other naval assets into the southern Caribbean and placed the operations under US Southern Command’s area of responsibility. 

International observers anticipate an invasion of Venuzuela combating drugs as merely another WAMD excuse for the real intention for oil. Historically, the US was behind the destabilisation and political turmoils of oil rich countries especially in the Middle East.

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