KUALA LUMPUR, Oct 4 — Malaysia is ready to work with other Asean countries, along with industrial players, financiers, and technopreneurs, for a holistic and sustainable future for the region, said Natural Resources, Environment and Climate Change Minister Nik Nazmi Nik Ahmad.
The minister added that he believes Malaysia needs to work within the Asean framework in order to succeed in the journey to fight climate change and that a sustainable Asean will be crucial towards achieving an Asian Century.
“The remarkable Asean Spirit that has ensured peace and prosperity in most of the region thus far must now be turned towards addressing the future’s most existential challenges, namely climate change and the quest for a just energy transition,” he said at the AtoZero Asean Summit here today.
The summit is the highlight of the International Greentech & Eco Products Exhibition & Conference Malaysia (IGEM) 2023 — the summit features key decision-makers who explore pathways, policies and business opportunities to drive the global net zero transition agenda.
Nik Nazmi said by 2040, the Asean Centre for Energy estimates that carbon dioxide emissions could increase by as much as 147 per cent compared with 2017 levels.
“Indeed, Asean as a region could lose 37.4 per cent of its current GDP by 2048 if climate change mitigation is not undertaken,” he said, adding that this makes Asean among the most vulnerable to climate change in the Asian region.
Nik Nazmi said in order to achieve its carbon-neutrality goals, Asean must bridge a 2.6 gigaton carbon dioxide gap. He also highlights that based on an analysis by the Boston Consulting Group, pursuing carbon neutrality could yield a GDP value-add of US$3.0-5.3 trillion by 2050, attract green investments of up to US$6.7 trillion, and generate over 60 million additional jobs.
With regard to Malaysia’s efforts, he said the government recently unveiled the National Energy Transition Roadmap (NETR) “to comprehensively chart our trajectory towards a brighter, cleaner, and more resilient future.”
The successful implementation of NETR will uplift Malaysia’s GDP value from RM25 billion in 2023 to RM220 billion and generate 310,000 jobs in 2050.
— Bernama
