@Green January/February 2025 | Page 9

January-February . 2025 | @ green • COP 29 09

Circular economy in Malaysia ’ s palm oil industry

energy transition underscored the importance of integrating Environmental , Social , and Governance ( ESG ) principles to guide this shift .
Tenaga Nasional Berhad Chairman Tan Sri Abdul Razak Majib said : “ Malaysia ’ s journey towards a sustainable future relies on collaboration , resilience , and innovation . TNB is committed to advancing ESG principles and expanding renewable energy efforts to drive the nation ’ s energy transition forward aligned with the government ’ s NETR policy and guidelines ”.
Wan Sayuti Wan Hussin , PETRONAS Senior General Manager , Strategy , Policy and Regulation , Corporate Sustainability Division concurred that
“ the energy transition will be the defining challenge of our time and it has multiple pathways ”. He said : “ We need to take into consideration the local context and leverage Malaysia ’ s strengths to unlock opportunities on technology-based solutions ( e . g ., CCS , hydrogen , biofuels ) and naturebased solutions , whilst adhering to the international standards and aligning with the global climate goals .” By aligning financial flows and policies with low-carbon development pathways , Malaysia is positioning itself to lead in the green economy , all while navigating the complex challenge of moving away from its fossil fuel dependency in a just and responsible manner .
On the 5th day of COP29 at the Malaysia Pavilion , the sessions featured insightful conversation surrounding Powering a Just Transition : Sustainable Malaysian Palm Oil .
The discussion encapsulated Malaysia ’ s palm oil industry ’ s role in driving global climate solutions through Just Transition and Circular Economy initiatives .
It also facilitated dialogues on the industry ’ s transformative approaches to job creation in sustainable farming and bioenergy , circular economy advancements , and empowerment of marginalised communities .
Belvinder Sron , Chief Executive Officer of The Malaysian Palm Oil Council , highlighted the industry ’ s forward-thinking approach .
She said : “ Our presence at COP29 highlights Malaysia ’ s position as a trailblazer of sustainable palm oil production . Through strategic partnerships and steadfast dedication to responsible
practices , we aim to set a global benchmark for environmental stewardship and economic resilience , showing the world that sustainable palm oil can meet both ecological and societal needs .”
Professor Jeffrey D . Sachs , President of the UN Sustainable Development Solutions Network ( SDSN ) , in his speech , said : “ We recognise that the East Asia region , including ASEAN and China , is at the forefront of the world ’ s most significant transformations towards a green , sustainable , and digital economy .
“ As global pacesetters , it is crucial for ASEAN to drive region-wide initiatives in energy transformation and sustainable land use , including the palm oil industry .
“ Malaysia ’ s ASEAN Chairmanship 2025 is a tremendously important opportunity to lead these efforts , given its strong track record in sustainable development and energy innovation .”

Malaysia assumes ASEAN chair in 2025

THE Malaysia Pavilion at COP29 marked the country ’ s steadfast commitment to sustainability as it prepares to assume the ASEAN Chairmanship in 2025 . Aligned with the pavilion ’ s theme , ‘ Shift for Sustainability – Climate Action Now !’, the country is set to showcase its key climate action milestones , advocate for stronger intergovernmental cooperation on green initiatives , and promote the country ’ s advanced sustainable practices on the global stage .
This effort is fully aligned with Malaysia ’ s broader climate objectives and supports the theme of the 2025 ASEAN Chairmanship , “ Inclusivity and Sustainability ”.
Malaysia called for enhanced cooperation among ASEAN member States and urged more decisive action on key areas such as sustainable development , environmental protection , and social equity , in line with the ASEAN Community Vision 2025 , to drive the region ’ s progress toward achieving its net-zero goals .
Secretary General , Ministry of Natural Resources and Environmental Sustainability ( NRES ), Datuk Dr Ching Thoo said : “ The global climate crisis demands a unified approach , and today , at COP29 , we remain fully-committed to our comprehensive strategy emphasising on climate-conscious policies and sustainable economic growth that benefit the people and economies of all ASEAN nations .
“ We aim to foster deeper collaborations to tackle these shared environmental challenges and hope to enhance regional resilience by implementing effective climate solutions .”
The pavilion served as a dynamic platform for Malaysia to advocate for collective action and shared responsibilities in climate finance resilience , advancements in renewable energy , progress on carbon markets , and cross-border collaboration in biodiversity protection , empowering youth and a robust circular economy agenda .
A robust lineup of prominent local and international speakers featured keynotes and panel discussions , including cross-border negotiations aimed to address pressing environmental challenges , promote resilient initiatives and secure a more sustainable future for Malaysia and around Southeast Asia .
The distinguished lineup of speakers included high-level panels with representatives from across sectors including Ministry of Energy Transition and Water Transformation ( PETRA ), Ministry of Economy , Tenaga Nasional Berhad , and Suruhanjaya Tenaga ( Energy Commission ), Malayan Banking Berhad , ICLEI South Asia , CIMB Islamic Bank , Malaysia Green Technology and Climate Change Corporation , Yinson , and many more , and discussed pathways for building climate-resilient cities in Malaysia through collaboration with regional and global partners .
Furthermore , a regional panel moderated by GIZ ASEAN EU-German Climate Action Programme featured insights from ASEAN Showcasing ASEAN ’ s Climate Ambition Through the Development of New Cycle of NDC that included Malaysia ’ s Ministry of Natural Resources and Environmental Sustainability , Brunei ’ s Climate Change Secretariat , Indonesia ’ s Ministry of Environment and Forestry and Singapore ’ s National Climate Change Secretariat demonstrating cross-border commitment to climate action .
The agenda concluded with presentations and fireside chats on transboundary climate risks in Southeast Asia , bringing together experts from the Global Resilience Partnership , Stockholm Environment Institute , and Boston Consulting Group ( BCG ), to chart a collaborative path forward on managing climate risks that impact the region . – @ green