DUBAI: The Ministry of Natural Resources, Environment and Climate Change (NRECC) today launched Malaysia’s Sustainable Energy Development prospectus to showcase Malaysia’s strategic intent in advancing a “just energy transition” at the 28th Conference of the Parties (COP28) here.
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.
NRECC Minister Nik Nazmi Nik Ahmad said 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,“ he said during the launch event at the Malaysia Pavilion at COP28 here.
Nik Nazmi said 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 per cent in 2050 from the existing 25 per cent.
“This goal aligns with Malaysia’s commitment to reducing greenhouse gas emissions under the Paris Agreement, aiming for a 45 per cent reduction in carbon intensity to GDP in 2030 compared to 2005 levels,“ he added.
The prospectus was developed in collaboration with the Sustainable Energy Development Authority (Seda), Energy Commission (ST), Malaysian Green Technology and Climate Change Corporation (MGTC) as well Tenaga Nasional Bhd (TNB). It 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.–Bernama