KUALA LUMPUR: The government should be more aggressive in attracting more investors to the field of environmental, social and governance (ESG) to achieve the target of zero carbon emissions by 2050, said a senator.
“This is to ensure that the country gets large investments as Malaysia needs RM1.3 trillion by 2050 to achieve zero carbon,“ said Senator Datuk Seri Mujahid Yusof (pix) during the debate session on the Supply Bill 2024 in the Dewan Negara today.
To achieve net zero carbon emissions by 2050, annual clean energy investment worldwide will require around US$4 trillion (RM18.7 trillion) by 2030. Malaysia will need RM1.3 trillion by 2050.
Mujahid also suggested the government introduce incentives such as ESG bonds which are supported by an increase in compliance with ESG requirements by operating companies and asset management institutions in addition to providing ESG infrastructure. –Bernama
