*3.2. Data Analysis*

In this paper, the focus on the palm oil companies is according to the detailed content development and data analysis information presented in the companies' sustainability reports or other equivalent corporate publications. The following sections introduce and discuss the analysis of the respective evaluation forms from the supplementary literature reviews, desktop reviews, and interviews. Table 4 shows the profile of the firms that took part in the data collection, consisting of the distribution in years of establishment, location, and the respondents/interviewees' positions as representatives of Malaysian palm oil companies.


**Table 4.** Respondent's profiles.

A transcription of the interviews was then carried out and the coded data was further analyzed through the thematic analysis. As illustrated by [29], qualitative analysis is often conducted through reviewing the subjects' answers to every question and then carrying out a selection of the most relevant parts to the question asked. The participants had expressed various conditions that are perceived to be significant in facilitating their views on carbon trading based on the experiences they have. The factors were grouped into four broad themes and were subsequently mapped to the four forms of assessment for pressure from institutions that were anticipated in this research. Table 5 below presents the four themes and their relevant descriptions.

This study has explored the positive impacts of CDM implementation within palm oil companies in Malaysia. Its findings have supported the significant factors on the legal dimensions, financial conditions, green resources, and capabilities, and highlighted the more important criteria that could encourage the palm oil industry to implement CDM, which has positive impacts on sustainable development. Based on the follow-up interviews' exploratory investigation, some palm oil companies have confirmed that the majority of Malaysian palm oil producers have considered implementing CDM as their future option in relation to sustainability and can engage in long-term investment. However, there are some limitations in relation to its achievement as the future carbon market development has an e ffect on global policy and, at some points, education, skills, technology, and cost factors interfere with the decisions.


**Table 5.** Interview findings on crucial factors and positive sustainable development impacts.
