The National Climate Governance Summit (NCGS) 2024, held today at Sasana Kijang, underscored the Unity Government’s commitment to fostering sustainable growth through climate-conscious economic policies.
Deputy Minister of Investment, Trade, and Industry (MITI), Liew Chin Tong, delivered the keynote speech titled “Sustainable Investing: Greening and Growing Our Economy at Once.”
He emphasised that climate action should not be viewed as a financial burden, but as a growth opportunity that aligns with Malaysia’s economic objectives.
Liew pointed to the Madani Economy Framework, unveiled by Prime Minister Datuk Seri Anwar Ibrahim in 2023, as a foundation for Malaysia’s green transformation.
“In every economic action we pursue, we no longer subscribe to the idea of growth for its own sake,” he said, stressing the shift from traditional growth models to sustainable, inclusive strategies.
The minister outlined how initiatives like the National Energy Transition Roadmap (NETR) and the New Industrial Master Plan 2030 (NIMP 2030) aim to attract RM1.2 to RM1.3 trillion in investments focused on achieving net zero carbon emissions by 2050.
NIMP 2030 sets four core missions: building a more complex economy, advancing technology adoption, pushing for net zero, and ensuring economic security and inclusivity.
Liew also discussed the recently approved Green Investment Strategy, which prioritizes solar energy, electric vehicles, carbon storage, and green hydrogen as quick wins for sustainable growth. The strategy, supported by the National Investment Council, is designed to steer Malaysia’s economic activities towards long-term climate goals.
In his speech, Liew called for a shift in societal mindsets, highlighting the need for whole-of-government and whole-of-society approaches to address climate challenges. He urged for a reevaluation of investment structures, focusing on domestic benefits, job creation, and environmental sustainability.
Additionally, the Deputy Minister advocated for a balanced approach to supply and demand management, including measures to repurpose toll roads and reduce non-revenue water, as part of efforts to optimise resources.
Liew concluded by emphasising the importance of technology in addressing climate and food security challenges, using the Netherlands as an example of how innovation can transform agriculture. He urged Malaysia to invest in agritech and green technology to become a leader in sustainable solutions.
The summit brought together key stakeholders, including policymakers, industry leaders, and academics, to discuss the way forward for Malaysia’s green growth and sustainability goals.
The government’s framework and strategies, Liew said, reflect a growing consensus that “green growth is an opportunity, not a burden.” The shift towards sustainable investments is expected to guide Malaysia’s future economic decisions as the nation positions itself as a global leader in the green economy.
