Malaysia has on Tuesday 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, emphasizing 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, according to a statement.
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 Nik Ahmad stated in his keynote address at the launch that 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 decarbonization 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 endeavor for a low-carbon energy system and a sustainable future,” he said.
Recognizing the crucial role that energy plays in the climate challenge, he said Malaysia acknowledges that collaborative action within the industry is essential in its journey to accelerating renewable energy deployment to 70 percent in 2050 from the existing 25 percent.
According to him, this goal aligns with Malaysia’s commitment to reducing greenhouse gas emissions under the Paris Agreement, aiming for a 45 percent reduction in carbon intensity to gross domestic product (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.
Alongside this document, Malaysian delegates have been actively engaged in talks and discussions throughout the climate conference, leading to many successful sustainable energy collaborations.