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ABSTRACT The idea of trading greenhouse gas emissions has become an important tool to tackle the problem of global climate change. Malaysia has started to strive towards a low carbon economy through various policies and initiatives. The main objective of this article is to document the exiting policy developed by the Malaysian government and review some of the current practices pertaining to the Clean Development Mechanism (CDM). The objective of such analysis is to understand what initiatives have been taken by the Malaysian government. Challenges and barriers will be documented for further research to provide a solution. In addition, it will also provide insight into the current CDM practices in Malaysia. It aims to provide a useful reference that could act as a foundation for future study to explore these issues further, particularly in the Malaysian context. It could also be an important reference for practitioners starting a CDM project. Although a review of the existing policy indicates that Malaysia has undertaken several initiatives, much more can be done. More research is now being carried out in order to provide support to the government. Stakeholder engagement is one way of acquiring input for the government to formulate a new policy. The main stakeholders - industry and the bankers - need to be engaged and made to understand to ensure smooth implementation and easy acceptance. Malaysia can also look to the advanced countries if necessary and modify what it learns for the Malaysian context. Copyright © 2012 John Wiley & Sons, Ltd and ERP Environment. [ABSTRACT FROM AUTHOR]

Palm oil's utilization as a renewable energy (RE) source has led the government to intervene by introducing emission reduction projects. Carbon trading projects are part of the strategic direction adopted within the climate mitigation plan and sustainability drive in the palm oil industry. The perquisites and opportunities encountered within emissions trading are expected to aid palm oil producers economically, environmentally, and socially. This study addresses and analyses how the carbon trading projects' targets in Malaysia can be achieved, the problematic, and pressing issues around their implementation and whether these projects are sustainable and create a positive impact. This paper is based on literature reviews and semi-structured interviews with expert palm oil producers in Malaysia. The findings have revealed that carbon trading implementation in Malaysia has delivered new insights towards the international climate policy approach on the feasibility and impact of long-term sustainability goals. However, the impact of the implementation needs support from the government for further development. In conclusion, the major contribution of this study is that the carbon trading implementation in Malaysia complies with the objectives and principles of sustainable development and creates a significant influx in investment for Malaysia's economic growth. [ABSTRACT FROM AUTHOR]