Malaysia announces Low Carbon Aspiration 2040 initiative

Prime Minister Datuk Seri Ismail Sabri Yaakob (R) at the launch of the National Energy Policy 2022-2040 in Putrajaya, September 19

Kuala Lumpur (VNA) – Malaysia’s average Gross Domestic Product (GDP) is set to expand by 13 billion RM (2.85 billion USD) a year with the implementation of the Low Carbon Aspiration 2040 initiative, according to Prime Minister Ismail Sabri Yaakob.

Speaking at a ceremony to unveil the initiative, the PM said the initiative under the National Energy Policy 2022-2040 is also expected to create 207,000 new jobs.

It will help the country achieve net zero gas house emissions (GHG) in 2050 in face of challenges posed by energy transition and climate change, he added.

The aspiration has nine targets to be achieved by 2040, among them shared mode of public transport of 50%, use of electric vehicles (EVs) of 38%, use of the B30 mixed fuel for heavy vehicles as an alternative fuel as well as energy savings of 11% for industry and commercial use and 10% for residential use.

The PM also affirmed that the government is confident that the initiative is capable of ensuring that the energy sector is always ready to face future challenges./.

VNA