@Green September/October 2024 | Page 9

• Cover Story 09
September-October . 2024 | @ green

• Cover Story 09

Deputy Prime Minister and Minister of Energy Transition and Water Transformation Dato ’ Sri Fadillah Yusof at IGEM 2023 .
in green sectors .
In addition to these sessions , IGEM will host roundtable discussions with government ministries , private sector leaders , and other key stakeholders .
These discussions are expected to encourage more holistic and inclusive approaches to overcoming these challenges .
COLLABORATIONS AND INVESTMENTS
To achieve IGEM ’ s RM 4.8 billion business lead target this year , IGEM partnered with MIDA ( Malaysian Investment Development Authority ) and MATRADE ( Malaysia External Trade Development Corporation ).
These partnerships leverage the vast networks and expertise of both organisations , driving greater participation and increasing the potential for high-value transactions .
During IGEM , multiple Memorandums of Understanding ( MoUs ) and Memorandums of Cooperation ( MOCs ) are often established between various stakeholders .
According to Shamsul , these agreements play a crucial role in transitioning plans into tangible
Pocket Talk session .
projects , with projected values potentially exceeding RM 5 to 6 billion , based on past performances .
In fact , seventy per cent of the business leads generated from IGEM 2023 are set to be realised by MGTC and MIDA by Oct 2024 . Additionally , 20 per cent of these investments are expected to be registered within 18 to 24 months after approval .
This commitment builds on IGEM ’ s proven track record . Following IGEM 2023 , MIDA published a report in February revealing that 60 per cent of the business leads generated had already come to fruition .
An instance of successful international cooperation is the recent announcement of UK investors ’ involvement in energy efficiency initiatives led by Malaysia ’ s Ministry of Health ( KKM ), which is valued at RM90 billion .
This partnership indicates IGEM ’ s global reach over the years . In fact , recent chapters have been successfully held in Singapore and Shanghai , with plans to extend into New Delhi .
“ We ’ re not just focused on Malaysia ; our vision extends beyond . We ’ re pushing Malaysian products into Greater Asia , Oceania , and the Middle East .
“ The plan is to go global because we believe the world should see green products as the sustainable option . It ’ s about ensuring that low-carbon initiatives and projects , as well as a greener lifestyle , become the norm worldwide .”
incentives : the Green Investment Tax Allowance ( GITA ) and Green Income Tax Exemption ( GITE ).
Since its introduction in 2016 , these incentives have attracted over RM9 billion in investments , supporting more than 1,000 projects across sectors like renewable energy , energy efficiency , electric vehicles , waste management , and green buildings .
This significant impact underscores the progress we ’ ve made in promoting sustainability .
MGTC has also been supporting low-carbon operations in industries . Its Low Carbon Operating System ( LCOS ) is a comprehensive framework that reduces carbon emissions across various industrial processes .
GLOBAL COMPETITION
It keeps Malaysia competitive in global markets , especially with mechanisms like the Carbon Border Adjustment Mechanism ( CBAM ) by the European Union taking shape . The commitment to this global competition reflects the nation ’ s determination and
ambition in the sustainability arena .
Apart from that , MGTC has initiated programmes that reach out to various community groups , including houses of worship through the Rumah Ibadat Hijau ( RIH ) programme , to promote green practices and raise awareness about climate change to inspire sustainable living across diverse communities .
“ This initiative has resulted in a cumulative reduction of 286 tonnes of carbon dioxide emissions , equivalent to planting approximately 7,150 trees ,” he disclosed .
On the other hand , its green procurement initiatives , Government Green Procurement ( GGP ) and Private Green Procurement ( PGP ) are driving demand for environmentfriendly products and services across public and private sectors . Complementing these efforts is the MyHijau programme , which certifies green products and services . MGTC aims to certify 50,000 products by 2030 , with
16,000 already registered under this initiative . MGTC is also driving efforts to reduce urban carbon footprints ; the Low Carbon Cities Framework ( LCCF ) was initiated to address city carbon emission issues .
“ This effort is ongoing as our country aims to establish 200 Low-Carbon Zones and 1,000 Low- Carbon Partners by 2030 .”
As it marks 25 years of advancing climate action , MGTC continues
Interaction between exhibitor and visitor at IGEM 2023 .
to drive the nation ’ s green agenda forward through strategic alliances , innovative solutions , and setting an example for the region while meeting its environmental goals .
MGTC ’ s ongoing efforts underscore its unwavering commitment to not just advocating for green technology but actively shaping Malaysia ’ s position as a leader in global sustainability . – @ green