CIDB Holdings, CI Tech In Tie-Up To Launch Construction Sector's Blockchain Platform
KUALA LUMPUR, Oct 28 (Bernama) -- The Construction Industry Development Board (CIDB) Malaysia’s commercial arm CIDB Holdings Sdn Bhd has signed a memorandum of collaboration with CI Tech Sdn Bhd to introduce Malaysia’s first government-endorsed blockchain platform for verified carbon credits in the construction sector.
In a statement, CIDB Holdings said the platform will provide end-to-end traceability, transparency and integrity of carbon data throughout the construction value chain.
It said CI Tech’s platform will automatically capture and secure key data, including materials, transport, energy use, and waste management, generating cryptographically authenticated records that can be independently verified.
“All verified carbon data generated through the platform will align with internationally recognised standards, including Verra and Gold Standard, enabling tradeable carbon credits on both Bursa Carbon Exchange (BCX) and global voluntary markets,” it said.
Furthermore, CIDB said pilot projects in flagship housing and infrastructure developments will kickstart the initiative, paving the way for a National Construction Carbon Registry and standardised carbon accounting methodologies.
CIDB Holdings chief executive officer (CEO) Supian Musa said the collaboration is a game-changer for Malaysia’s construction industry.
“For the first time, every player, from the smallest subcontractor to the largest developer, can produce verifiable, auditable carbon data that redefines how to measure sustainability in Malaysia,” he said.
CI Tech CEO Govinda Retnavelu said its platform removes the barriers of cost and complexity, and empowers every contractor to contribute trusted sustainability data recognised globally.
Malaysia will become the first Southeast Asian nation to operationalise verified carbon credits in construction under a government-led framework, positioning itself as a regional hub for digital carbon verification and sustainable construction technology, added CIDB.
-- BERNAMA
