COP28: Malaysia could be looking into a early coal phase-out as its actively considering the Request for Information (RFI) mechanisms for coal carbon reduction in a forward-looking approach to climate mitigation action and environmental sustainability.
Minister of Natural Resources, Environment, and Climate Change, Nik Nazmi Nik Ahmad, who participated in the launch of France’s Coal Transition Accelerator Event at COP28 in Dubai underscored the substantial challenges faced by Malaysia and other developing nations that span energy, economic, social, and environmental domains, particularly for countries relying on young coal plants. However despite this, the Minister emphasised Malaysia’s unwavering policy against construction and development of new coal plants while calling for the need to establish a dependable, cost-effective, and sustainable energy system in the face of these obstacles.
Among the options the country has explored to reduce carbon emissions from existing coal facilities include co-firing, mothballing, or early retirement, on top of making a significant reduction in fossil fuel subsidies for electricity.
At the event, Minister Nik also expressed Malaysia’s interest in understanding the Just Energy Transition Partnership (JETP) deal which the Vietnamese Government has subscribed to, in unlocking financing and support for sustainable energy transition, and in which Malaysia can possibly emulate. While Malaysia acknowledges the potential for its country to have
increased coal elimination ambition, Minister Nik stressed the importance of technical, capacity and capability support from developed countries and the international community.
Malaysia was one of the ten key stakeholders present, highlighting the country’s commitment in climate mitigation action especially on the commitment for no new coal and possible early elimination of coal power plants, as a precursor in addressing related environmental challenges.
The Minister said the country stands ready to systematically reduce its fossil fuel consumption especially from coal, contributing to global efforts for a sustainable and greener future.