KUALA LUMPUR, Aug 29 — The government plans to hold the first meeting of the National Energy Council as early as October this year, said Economy Minister Rafizi Ramli.
He said the National Energy Council, chaired by Prime Minister Datuk Seri Anwar Ibrahim with the Economy Ministry serving as its secretariat, will set forth high-level strategic directions and policies, allowing working committees to coordinate and report on progress.
“The establishment of the National Energy Council is the strongest signal yet of the government’s intention of moving beyond blueprints and into the nitty-gritty of implementation,” he said in his keynote address on the second day of the Energy Transition Conference here today.
Rafizi said to realise economic gains for the country, there are three critical structures that will be the bedrock of the National Energy Transition Roadmap — strong governance, substantial financing, and a credible and transparent exchange system.
And the National Energy Transition Facility will adopt an innovative blended financial instrument to combine funding from public, private, and philanthropic channels, he said.
“Our goal is to unlock local and international green funds that have reached record highs in the past year, and are predicted to continue enjoying investor confidence if we pursue them effectively,” he said.
He said the government is introducing Responsible Transition 2050, a low-carbon pathway for the energy sector more ambitious than the Low-Carbon Nation Aspiration 2040 set forth previously.
Rafizi said it would unlock economic value brought by initiatives and enablers, whereby the government expects a 10-15 per cent uplift in gross domestic product value from market-creating products that are high-growth and high-value (HGHV).
“For businesses, infrastructure and technology would become the impetus for investments to flow through. Cleaner energy mix and energy efficiency would also future-proof our industries so we are prepared for a world where money responds to the greenest products.
“Meanwhile, for the people, 350,000 jobs would be created in the HGHV sectors across the country. Importantly, 70 per cent of income gains will flow to low- and medium-income households,” he said.
— Bernama
