06 NEWS
06 NEWS
COP29 | Monday , November 11 . 2024
Advancing Just Transition
Malaysia › s Sustainable Energy Prospectus Launched at COP28
“ The urgency for Malaysia ’ s shift to sustainable energy is fuelled by global commitments , particularly the Paris Agreement and the need to fortify economic diversification and energy security .
– Nik Nazmi Nik Ahmad
MALAYSIA launched the Sustainable Energy Development prospectus in an effort to showcase Malaysia ’ s strategic intent in “ Advancing Just Energy Transition ” at the 28th Conference of the Parties to the UNFCC ( COP28 ) at Dubai Expo City , emphasising its commitment to climate action on a global stage .
The prospectus serves as an expression of Malaysia ’ s openness to international collaborations , outlining the extensive efforts the country has taken in transforming its energy system into one with a lower carbon footprint as well as its continued commitment in ensuring a fair and responsible transition . Unveiled by Malaysia ’ s Minister of Natural Resources , Environment and Climate Change ( NRECC ), Nik Nazmi Nik Ahmad , the prospectus was launched in the presence of local and international delegates at the Malaysian Pavilion of the climate conference .
Nik Nazmi stated in his keynote address at the launch , “ The urgency for Malaysia ’ s shift to sustainable energy is fuelled by global commitments , particularly the Paris Agreement and the need to fortify economic diversification and energy security .
“ The launch of Malaysia ’ s Sustainable Energy Development prospectus signifies our commitment towards energy transition with plans to accelerate the decarbonisation of energy generation , develop a modern and flexible grid , as well as to embrace innovation and empower consumers . With this , we welcome trade , technical and policy collaboration with global partners in our collective endeavour for a low-carbon energy system and a sustainable future .”
Recognising the crucial role that energy plays in the climate challenge , Malaysia acknowledges that collaborative action within the industry is essential in its journey to accelerating renewable energy deployment to 70 % in 2050 from the existing 25 %. This goal aligns with Malaysia ’ s commitment to reducing greenhouse gas emissions under the Paris Agreement , aiming for a 45 % reduction in carbon intensity to GDP in 2030 compared to 2005 levels .
The prospectus , which was developed in collaboration with the Sustainable Energy Development Authority ( SEDA ), Energy Commission ( ST ), Malaysian Green Technology and Climate Change Cooperation ( MGTC ) as well as national utility , Tenaga Nasional Berhad ( TNB ), presents Malaysia ’ s plans and strategies for energy-related companies to embark and contribute to the country ’ s aspiration to attain a sustainable energy transition . Cop 29