BUSINESS

Malaysia Charts Ambitious Path Towards Net-zero Emissions, Aims For Regional Leadership In Sustainability

13/11/2024 12:42 PM

KUALA LUMPUR, Nov 13 (Bernama) -- Malaysia has committed to achieving net-zero greenhouse gas emissions by 2050, positioning itself as a responsible global player in the fight against climate change despite contributing just 0.8 per cent of global emissions.

The ambitious target, announced by the Ministry of Natural Resources and Environmental Sustainability, signals the nation’s determination to act decisively in safeguarding its future and that of the region.

In a statement today, Natural Resources and Environmental Sustainability Minister Nik Nazmi Nik Ahmad outlined the country’s renewed climate action framework, which includes a series of ambitious goals for renewable energy adoption and carbon reduction.

He said Malaysia aims to reach 31 per cent renewable energy capacity by 2025 and 40 per cent by 2035.

“As part of our Nationally Determined Contribution (NDC) under the Paris Agreement, Malaysia reaffirms its goal to reduce economy-wide carbon intensity by 45 per cent by 2030, and we are also in the process of setting another ambitious NDC target in 2025.

“We are determined to act, regardless of the global climate landscape, because this is the right thing to do for the future of our people and our country,” he said.

Nik Nazmi stressed that Malaysia, as a developing Southeast Asian economy, is uniquely positioned to recalibrate its economic trajectory for greater sustainability.

He said the government is also advancing a number of key policies to achieve these climate goals, including the MADANI Economy framework, the National Energy Transition Roadmap (NETR) and the National Industrial Master Plan (NIMP) 2030, through a whole-of-government approach to achieving sustainability.

The minister said that on the regional front, Malaysia is working to establish an interconnected ASEAN energy grid, a move that will help strengthen energy security across Southeast Asia.

“This integration will not only strengthen regional energy security but also strengthen ASEAN’s linkages in the global push for sustainable energy generation and consumption.

“Alongside this, Malaysia is leading the way in advancing carbon credits through the ASEAN Carbon Market Framework and addressing the pressing challenges of transboundary haze occurrences,” he said.

However, Nik Nazmi highlighted that developing nations like Malaysia cannot shoulder the burden of climate action alone.

He called on developed nations to honour their financial commitments, particularly through financial support, technology transfer, and capacity-building, to ensure that emerging economies are not left behind in the transition to a sustainable future.

“The developed world cannot continue to move the goalpost in paying the climate debt,” he said.

Looking ahead, Nik Nazmi said Malaysia is set to showcase its commitment to sustainability at the 29th United Nations Climate Change Conference (COP29), where it plans to emphasise its leadership in climate action.

Additionally, with Malaysia poised to take the chairmanship of ASEAN in 2025, he reiterated the country’s goal of becoming a hub for green investment and creating high-skilled green jobs that will support a sustainable future for the nation.

He noted that Malaysia’s climate action efforts have already received support from global collaborators, including the Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH and the United Nations Children’s Fund.

“The country has also secured approval from the Green Climate Fund to develop its National Adaptation Plan, with stakeholder consultations already underway to shape the country’s climate resilience strategies.

“We are moving forward, and we are confident that Malaysia can be a bridge to a more prosperous and equitable future for all,” he added.

-- BERNAMA

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