The SABC 2024 Side Program featured a session between the conference delegates with Nik Nazmi Nik Ahmad, Minister of Natural Resources and Environmental Sustainability, and moderated by Datuk Johary Anuar, Selangor Deputy State Secretary (Development) cum Director of UPEN, focused on investment and sustainable development in Malaysia.
The event highlighted Malaysia’s commitment to enacting new climate legislation to address the impacts of rising sea levels, despite the country’s relatively small contribution to global greenhouse gas emissions. Malaysia has set an ambitious target to achieve net-zero emissions by 2050 and increase its renewable energy capacity to 70 per cent by 2025.
The Minister further discussed the importance of a selective approach when approving energy-intensive investments, such as data centers, by assessing their sustainability and climate impact.
The conversation underscored the need for investment in clean energy sources, including nuclear and hydropower, as well as micro-mobility solutions. Malaysia is encouraged to explore opportunities in clean energy and electric vehicles (EVs) to support its climate goals.
In line with the overall theme of the regional conference, the discussion also focused on shared challenges among ASEAN nations, such as plastic pollution and climate change, with an emphasis on the region’s rich biodiversity and potential for sustainable economic growth. Singapore’s success in attracting sustainable investments was highlighted as a positive model for the region.
The panel also addressed the impact of globalization on local industries, calling for a balanced approach to growth that considers both local and global factors.
Finally, Nik Nazmi highlighted the Malaysian government’s active exploration of the potential of carbon credits, in collaboration with state governments and the World Bank. However, he also highlighted the importance of addressing plastic waste and reforming fossil fuel subsidies before implementing a carbon tax.
-NIAGATIMES
