November-December . 2024 | @ green

Speaking at the event , Minister of Economy Rafizi Ramli highlighted Malaysia ’ s commitment to reducing carbon emissions by 45 per cent by 2030 and achieving net zero by 2050 .

He acknowledged the significance of the Paris Agreement , signed in 2015 , and how Malaysia , alongside 195 other signatories , has taken steps towards meeting these global targets .

“ Since 1750 , Malaysia has contributed only 0.37 per cent of carbon dioxide emissions ,” said Rafizi .

He emphasised that this small share does not diminish the country ’ s global responsibility .

“ Despite this less than one per cent contribution , this administration refuses to shirk our global responsibility . We recognise not just the social impetus but the need to demonstrate regional leadership .

“ For us , this is about implementing thoughtful measures that secure a sustainable future for the people of Southeast Asia .”

THE ENERGY TRILEMMA

A key element of Malaysia ’ s strategy revolves around solving the energy trilemma - balancing security , sustainability , and affordability .

Rafizi pointed out a paradox - although Malaysia is the fifth largest exporter of liquefied natural gas ( LNG ), it imports about 30 per cent to meet its own electricity needs , which poses a serious question about Malaysia ’ s foreign depen-

AS THE 15th edition of the International Greentech and Eco Products Exhibition & Conference Malaysia ( IGEM ) ended , Minister of Natural Resources and Environmental Sustainability Nik Nazmi Nik Ahmad expressed pride in the accomplishments of the past three days .

With over 58,414 visitors from 55 countries and 485 exhibition booths showcasing groundbreaking solutions , IGEM 2024 has accentuated Malaysia ’ s status as a regional leader in green technology and sustainable development .

This year ’ s theme , “ Race Towards Net Zero : Regional Leadership for Climate Urgency ,” highlighted the pressing need for action against the global climate crisis .

“ Our journey toward net zero is

Malaysia will implement measures to secure sustainable future for Southeast Asia

Rafizi Ramli

dence in powering local demands .

To tackle this issue , Malaysia is embracing energy transition and decarbonising at scale . Rafizi outlined two primary pathways - a policy-led approach and a resourcedependent approach .

Policy measures include institutionalising sustainability reporting , green tax incentives , and net-zero legislation . On the other hand , resource-based strategies leverage Malaysia ’ s natural assets , such as solar energy and biomass , to build renewable energy infrastructure .

LEGISLATION AND INITIATIVES

Malaysia ’ s rich biodiversity provides a competitive edge , with the country being the third-largest

not merely a national ambition ; it is our solemn responsibility to address the pressing global climate crisis ,” said Nik Nazmi .

A PIVOTAL OPPORTUNITY

Malaysia ’ s upcoming role as ASEAN Chair in 2025 presents a pivotal opportunity to champion sustainability across the region further . The hosting of IGEM 2024 served as a precursor to this responsibility , aiming to guide ASEAN toward a collective green future .

The event has generated over RM5 billion in potential business leads , reflecting significant steps towards a greener future . Notably , IGEM 2024 has also earned a place in the Malaysia Book of Records as the longest-running green technology manufacturer of solar panels and the second-largest producer of palm oil , which facilitates biomass energy production .

Rafizi acknowledged that other countries have relied on progressive policies due to limited resources , an area where Malaysia has historically lagged .

“ Our legislation tends to take time and isn ’ t always benchmarked against the best practices . What ’ s the point of having an abundance of resources if we can ’ t have the right policies that unlock value and catapult us to the front ?”

With this concern in mind , he assured that things are changing , as his administration is committed to marrying policy with resource utilisation . An example of this shift is the forthcoming legislation on carbon capture , utilisation , and storage ( CCUS ).

“ That is why I am pleased to announce that next month , this administration will be tabling a CCUS bill to parliament - the first of its kind . The robust regulatory framework is benchmarked against several countries and has incorporated internationally recognised standards .”

This regulatory framework , benchmarked against international standards , aims to attract investment and redefine a new supply chain .

He stressed the importance of CCUS in achieving decarbonisation ,

exhibition , a testament to Malaysia ’ s dedication to promoting sustainable practices over the past 15 years .

FUTURE READINESS

As Malaysia prepares for COP29 in Baku , Azerbaijan , the progress made at IGEM 2024 reinforces the country ’ s commitment to climate action . The soft launch of Malaysia ’ s pavilion for COP29 signals readiness to engage in vital global discussions on climate finance and achieving climate targets .

The strong international interest in Malaysia ’ s green technology sector , alongside the memorandums of understanding established at IGEM , illustrates the nation ’ s attractiveness for green investments .

“ Our commitment to sustainabil- noting : “ Without the latter , power plants and steel industries will just not meet their targets . By rolling out this legislation , we are piecing that final jigsaw into the puzzle .

“ When I go to the ministerial meetings for the Asia Zero Economic Community , there is real demand from Japan , South Korea , and Singapore for Malaysia to take the lead .”

REGIONAL LEADERSHIP

Malaysia ’ s potential as a regional climate leader is already being recognised . To facilitate regional collaboration , the government plans to sign several memoranda of understanding ( MOUs ) this year to support transboundary carbon capture and storage ( CCS ) activities .

“ Being a megadiverse country comes with acknowledging that , actually , most countries aren ’ t blessed like us . Having this head start means we have a greater responsibility .

“ It doesn ’ t matter if we aren ’ t the biggest contributor of emissions . What matters is we show the right stewardship of our environment and push forward towards net zero .”

Malaysia is uniquely positioned to become a regional leader in renewable energy by effectively leveraging its natural resources alongside progressive policies .

Although the country contributes less than 1 per cent of global emissions , it remains committed to playing a significant role in the worldwide fight against climate change .

By combining its inherent strengths with sound governance , Malaysia is set to punch above its weight , demonstrating solid environmental stewardship on the path to net zero .

ity in production and consumption will remain central as we strive to integrate circularity into our industries and communities .”

Nik Nazmi emphasised that achieving Malaysia ’ s net zero target hinges on continuous collaboration both within the nation and with international partners . He expressed optimism about the ambitious goals set forth , stating that with collective innovation , strong leadership , and cooperative efforts , Malaysia is well-positioned to navigate the path towards a sustainable future . – @ green