A lot we read about carbon footprint and carbon credit. In particularly the Carbon Credit. Though in the past year, our Prime Minister has quoted that Malaysia projecting the reduction of Carbon footprint by 40% in the next 9 years to come, It is hard for some quarters to take as they said that the deforestation for plantation may not be accountable for the calculation of carbon footprint.
Last we see some reports crediting the increased stock of our countries Carbon Credit, It is however challenge-able by these quarters that the subjective drift these people has claimed are not debiting these credits.
Upon further checks, O&G sector are not particularly worried about these credits, but rather other energy sectors such as electricity utility that is getting worried about these carbon credit businesses.
Here, our government has also tackle the issues, particularly here in Sarawak, Government has initiated the part on boosting these carbon credits with a Corridor program called SCORE. Though the renewable energy context does not cover hydroelectric, the power transfer of potential energy to other form of energy should attribute to the increase energy supply.
Though there is a smelter for aluminium within the compound of SCORE, it is however a hungry power house which uses a lot of electricity to smelt the ore and reusable aluminium. With a managed supply chain from which it is drawing energy from natural power source, this decreases the demand from hydrocarbon fuel source, thus reduced the carbon footprint of the state, which in turn increase the carbon credit for the country.
As for the O&G industry, channelling the 51% stake of industries use to other demands could potentially reduced the demand for hydrocarbon fuel source. It will also bring the price of O&G down due to demand decrease. It will be essentially benefiting to the O&G industry to support this shift which will eliminate the import of hydrocarbon fuel thereby increased the carbon credit for the industry.