The Taman Negara National Park, which spreads across Pahang, Kelantan and Terengganu, is valued at the highest at over RM1.7bil annually for its positive impact on Malaysia’s ecosystem. — 123rf.com
MORE funds are being allocated for state governments in Malaysia to protect the environment every year – from RM70mil in 2021, it grew to RM100mil in 2022, and RM150mil this year.
Such allocations, known as an Ecological Fiscal Transfer (EFT), are provided by the Federal Government as an incentive for state governments to preserve natural surroundings and wildlife habitats. This includes protected areas like forests, coastlines, parts of the sea, and rivers and lakes.
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EFT mechanism in Malaysia dialogue
Preetha raises the point of having a legislative framework to ensure there was a continuous flow of EFT. — Others
Dr Chua believes the mechanism for EFT can change, as long as there’s annual budgeting for such purposes. — Others
Dr Khairul Naim: 'The EFT is currently provided based on the fiscal situation of the country at the time.' — Others
Gan: The UNDP is supporting the ministry in the project to assess the effectiveness of the current EFT mechanism. — Others
Banerjee: The green agenda is an area that can get financed very easily today if linked to the right instruments. — Others
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