Penang To Give Special Focus On Energy Transition Agenda

GEORGE TOWN, Oct 31 (Bernama) -- Penang is focusing specifically on the energy transition agenda and efforts to strengthen energy efficiency and the use of renewable energy in the state in an effort to implement sustainable development.

Chief Minister Chow Kon Yeow said his party is mobilising various parties towards sustainable development and a green economy, in line with the country's aspiration to achieve net zero carbon emissions by 2050.

He said the energy transition was not just an environmental issue, but also a catalyst for a sustainable green economy and the effort required comprehensive cooperation between the government, industry, academics and the community to ensure that the actions taken truly had an impact.

"The state government is also committed to playing an active role in supporting the country's clean energy agenda, after introducing the "Renewable Energy Roadmap" since last year as a guide to the implementation of renewable energy initiatives at the state level.

"In fact, Penang's collective efforts have yielded tangible results, namely between 2019 and 2024, energy "intersity" in the manufacturing sector will decrease by 19 percent annually, water by 22 per cent and industrial waste sent to landfill (24 per cent)," he told reporters after officiating the Penang Green Summit 2025 at the Penang Waterfront Convention Centre (PWCC), here today.

Meanwhile, Chow said the summit organised by the Penang Green Council (PGC) themed 'Moving Towards Sustainable Energy' is an annual event and serves as a platform for inspiration, collaboration and collective action to bring together policymakers, industry players, academics and the community in driving forward the progress that sustainable.

Chow, who is also the PCG Chairman, said in line with the National Energy Transition Roadmap (NETR) which is the nation's guide in achieving the net zero target by 2050, Penang continues to move forward and become one of the earliest states to take concrete action for the implementation of NETR at the state level, making the national aspiration a tangible and measurable reality.

The summit also saw a Memorandum of Understanding (MoU) between the state government and Alliance Bank Malaysia Berhad to establish the first state-level Climate Mitigation Fund (CM Fund) in Malaysia.

Chow said a transitional financing initiative aimed at helping SMEs and Medium-sized Companies (MTCs) in Penang move towards more sustainable production and the Climate Mitigation Fund would offer preferential loan rates as well as ESG capacity building programmes, with a focus on sectors such as Electrical and Electronics, medical devices, aerospace and others.

"Through this collaboration, PGC will work closely with Alliance Bank in setting eligibility criteria and monitoring to ensure that each investment truly contributes meaningfully towards our goal of making Penang a Climate Hub Green Manufacturing," he said.

-- BERNAMA