Malaysia plans to impose carbon tax on steel industry before 2026

According to local media reports, Malaysian Prime Minister Anwar Ibrahim announced in his 2025 budget speech that the government plans to impose carbon taxes on the steel and energy industries before 2026 SG500Q Grade C steel. Mr. Ibrahim stated that through this initiative, the government aims to encourage the use of cleaner and more sustainable technologies, and the revenue from this tax will be used for green technology projects and research SG500Q Grade C steel. In addition, the Malaysian Prime Minister announced that domestic companies UEM Lestra and Tenaga Nasional Bhd will invest RM16 billion (USD 3.67 billion) to enhance decarbonization technology and industrial green development.

Source: Abstract
Editor: Shirley

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Malaysia plans to impose carbon tax on steel industry before 2026