Gap Analysis on Forest Carbon Offsets in Malaysia

Award outcome

Description

Malaysia is pursuing sustainable financing to support forest conservation and restoration, whilst facilitating the delivery of national agendas related to forestry, biodiversity, and climate. As part of this, the Malaysia Forest Fund (MFF) is seeking to operationalise the Forest Carbon Offset (FCO); a market mechanism that allows the transfer of emissions reduction from forests to buyers in the form of carbon offsets. This project aims to conduct a comprehensive gap review and compliance assessment of the Forest Carbon Offset (FCO) mechanism and align it with internationally recognised carbon crediting standards while avoiding duplication with trading platforms like Bursa Carbon Exchange (which is a marketplace to buy and sell carbon credits, rather than produce and certify credits). The project will consist of several key activities: Conduct benchmarking and gap assessment, draft standard-compliant document • Arrange and attend in person workshop with MFF to finalise scope and expectations for delivery • Review current Forest Carbon Offset (FCO) documentation against requirements of CORSIA and ICVCM. • Map gaps related to additionality, permanence, MRV, baselining, co-benefits and contributions to SDGs, and leakage management, safeguards, and negative impacts on gender, social, economic and environment. • Conduct peer review and consultations, and preparation of necessary documentation for the application with CORSIA and ICVCM. Provide technical support to MFF in harmonisation and accreditation • Provide hands-on technical support to MFF in managing their applications to accrediting bodies, with the first application planned for February 2026. • Support on due diligence and methodological improvements. The expert will assist with interpretation of international laws, commitments and standards, advise on revisions to FCO instruments, and contribute to institutional learning. • Development of a toolkit which will bear in mind lessons learned and be a practical guide for MFF use in future applications. • Provide ongoing technical advice to support MFF in the harmonisation of the FCO. • Participation in fund-wide communities of practice for results and lessons sharing, including provision of input for possible case studies. • Participate in any additional promotional activities encouraging the usage of the FCO in Malaysia's carbon markets as requested by MFF and UK PACT. Please forward your quotento [email protected] in accordance with the Details for Submission above by the Close Date and Time. This RFQ includes the following materials: Schedule 1 - Terms of Reference Schedule 2 - Instructions for submission Schedule 3 - Terms and Conditions Annex I - RFQ Response Form Annex II - Budget and workplan template

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