Image credit: Malay Mail
KUALA LUMPUR: The government is stepping up efforts to secure energy security and combat the environmental challenges that confront the nation and the world with the launch of the National Energy Transition Roadmap (NETR) next week.
Natural Resources, Environment And Climate Change Minister Nik Nazmi Nik Ahmad said Economy Minister Rafizi Ramli who is entrusted to oversee the NETR will be the one to shed light on its contents.
“What I can tell you about the NETR is that my vision for future developments in the power sector has been integrated into it. The NETR will hopefully chart our course towards a cleaner and more sustainable energy future.
“I pledge that my ministry will continue its unwavering efforts to ensure the provision of a clean and reliable grid,” he said at “What’s Next for Malaysia”, an MIDF’s Roundtable Discussion on Navigating the Energy Transition today.
He stated that the threat of climate change and the need to secure energy security is looming large, demanding immediate attention and collective action.
“These are global imperatives that shape not just our nation but the destiny of future generations. The energy transition, the need for us to address climate change and depleting fossil fuel resources by moving to cleaner, reliable, and affordable renewable energy could define whether we succeed or fail in this,” he said.
He said that the government has pledged in its Nationally Determined Contributions (NDC) under the Paris Agreement to reduce the intensity of greenhouse gas emissions to GDP by an ambitious 45% in 2030 compared to 2005 levels.
“Our ambition is driven by a higher calling – to forge a sustainable and resilient future for Malaysia. To achieve this, we recognise that the energy transition is the key enabler that will propel us towards our net-zero aspiration,” he said.
He added that the government is steadfast to accelerate renewable energy (RE) deployment while phasing down and eventually phasing out existing coal capacity.
“These strategic moves will not only lead to a cleaner and more reliable electricity grid but also pave the way for wider economic growth through greater decarbonisation efforts,” he said.
However, he said that such an ambitious transition requires substantial investment. It is estimated that more than RM600 billion will be needed up until 2050 to support the enhanced RE targets.
Therefore, he is calling on the private sector to actively participate in Malaysia’s ambitious energy transition journey.
“This is an open invitation to our esteemed stakeholders to join us on this energy transition journey. We foresee the development of numerous new energy-related infrastructures, facilities, and services in the country as we strive to meet our bold RE targets,” he said.
Emphasising the benefits of embracing the energy transition, the minister urged businesses to recognise its profound impact on their bottom line and long-term survivability.
“There may be some short-term pain but ultimately, it’s an investment in cheaper, more efficient energy. Also, when all is said and done, businesses cannot be one-dimensional.
“Yes, we encourage investment in renewable energy, and it is a lucrative proposition, but it should not just be about maximising profit but from a realisation this is where our global economic future lies,” he said.
Source: https://www.thesundaily.my/business/govt-steps-up-efforts-to-ensure-energy-security-combat-environmental-challenges-AH11259911