Malaysia targets net zero greenhouse gas emissions by 2050. (Illustrative photo: AFP/VNA) He told the recent Bumiputera EconomicCongress that the Government expects more job opportunities along withbusiness potential and investment will be created thanks to NEEAP 2.0.
InAugust 2023, Malaysian Prime Minister Anwar Ibrahim launched theNational Energy Transition Roadmap (NETR), which outlined the country’s effortsand commitment towards achieving net zero greenhouse gas emissions by as earlyas 2050.
Deputy PM Yusof said the NETRproves the Government’s determination in implementing the energy transitioninitiative from a traditional fossil fuel-based economy to a high-value green one.
Henoted that theMalaysian Government has set a commitment to increase the share of renewableenergy capacity in the country’s electricity supply to 70% by 2050, compared to25% currently. This effort requires cooperation and the involvement ofthe Government, the private sector, and the people to ensure the success of allrenewable energy initiatives and programmes to achieve the target.
Efforts to realise the energy transitiontarget will be done comprehensively based on careful consideration of severalcapacity factors such as the grid system, demand for green electricity supply,economic spillover value, and consumers’ willingness to pay.
Several initiatives will be implemented,including building solar power plants to increase the supply of greenelectricity at a reasonable cost, and developing a regional grid system underthe ASEAN Power Grid initiative.
The implementation of various initiativescould open up more business opportunities and new economic potential to beutilised and enjoyed by all parties, including small and medium enterprises, accordingto the Deputy PM./.
VNA
