A total of 882 green projects worth RM3.66 billion and 7 green services worth RM21.9 million have been approved by the Malaysian Investment Development Authority (MIDA) in 2021, according to caretaker Minister of Environment and Water Dato’ Sri Tuan Ibrahim bin Tuan Man.
These green projects include investment in the renewables, green buildings and circle economy.
“The rapid development of the green technology sector will boost the country’s GDP growth, while creating new high quality job opportunities for the people. This will contribute to improving the quality of life and environmental sustainability in Malaysia in the long term, and will guarantee the prosperity of Keluarga Malaysia in the future,” the minister was quoted as saying.
Tuan Ibrahim delivered his speech via pre-recorded video for the official launching of International Greentech & Eco Products Exhibition and Conference Malaysia (IGEM) 2022 at Kuala Lumpur Convention Centre.
He said November this year the Ministry of Environment and Water will lead the Malaysian delegation to the 27th Conference of the Framework Convention on Change United Nations Climate (UNFCCC COP-27) in Egypt. For COP27, Malaysian pavilion shall provide space for Government institutions, non-governmental organizations (NGOs) or private sector companies to highlight low-carbon initiatives in Malaysia.
“The development of the Malaysian Pavilion will also open opportunities for Malaysian companies to attract investment in low-carbon areas and demonstrate capabilities Malaysian companies in the field,” he added.
Tuan Ibrahim reaffirmed Malaysia’s commitment towards achieving the Sustainable Development Goals (SDGs) and its ambitious journey to achieve carbon neutrality by 2050.
The Ministry of Environment and Water (KASA) and the Malaysian Green Technology and Climate Change Corporation (MGTC) joined forces to execute IGEM 2022, which began on 12 to 14 October 2022, as it is seen as essential in accelerating Malaysia’s socio-economic development. Themed ‘Race Towards Net Zero: Fulfilling Sustainable Development Goals (SDG) and Environmental, Social, and Corporate Governance (ESG’), the 13th edition embraces the country’s aspiration to promote sustainability as charted in the Twelfth Malaysia Plan (RMK-12).
Empowering the development of sustainable cities, electrifying mobility, decarbonising energy, and accelerating circular economy are among the critical focus of this year’s IGEM.
To achieve the country’s aspiration towards net zero GHG emissions, the government, experts, financial institutions, and industry players need to work together to meet the commitments outlined under the SDGs and ESG.
With over 300 booths occupied, the event is expected to receive about 30,000 visitors and RM3 Bil investment prospects. Representatives from 30 countries, including Taiwan, China, the Netherlands, Canada, Korea, Singapore, and Austria, are involved, and there are 15 conference sessions featuring 30 conference speakers and nine conference partners.
The Malaysian Green Technology and Climate Change Corporation (MGTC) is an agency of the Ministry of Environment and Water (KASA) mandated to drive the country in the scope of Green Growth, Climate Change Mitigation and Green Lifestyle.
Three national policies, in particular, the National Green Technology Policy (NGTP), the National Climate Change Policy (NCCP) and the Green Technology Master Plan (GTMP), regulate MGTCs role as a catalyst for green economic growth.
MGTCs initiatives and programs provide specific details in achieving the long-term impact of the Nationally Determined Contribution (NDC) to reduce greenhouse gas emission intensity by 45% based on Gross Domestic Product (GDP) compared to emission intensity in 2005 by 2030, increasing the GDP rate from green technology of RM100 Billion and the generation of 230,000 green jobs.
