DEC 9 — Malaysia is at a critical juncture in its fight against climate change. With the growing urgency to address global warming, the government is taking significant steps to...
New to investing?as a first-time user . Exclusively for Malay Mail readers: Use codeDEC 9 — Malaysia is at a critical juncture in its fight against climate change. With the growing urgency to address global warming, the government is taking significant steps to align its environmental policies with international standards.
As Malaysia seeks to bolster its renewable energy capacity, Renewable Energy Certificates are emerging as a pivotal tool to attract investment. These certificates enable companies to purchase the environmental benefits of renewable energy projects, allowing them to effectively offset their carbon footprint. For instance, a corporation can acquire RECs to assert their operations are powered by clean energy, even if they are physically connected to the conventional grid.
The European Union’s Carbon Border Adjustment Mechanism , set to fully roll out by 2026, poses another formidable challenge for Malaysian exporters. This mechanism imposes tariffs on imports based on their carbon content, effectively penalising goods with high carbon footprints. With the EU being one of Malaysia’s top trading partners, industries such as palm oil, electronics, and manufacturing face the risk of losing competitiveness if they fail to decarbonise.
Transitioning to a low-carbon economy has its own challenges as well. Public awareness and participation are vital for the success of these initiatives. Malaysians can play their part by adopting energy-efficient practices, supporting sustainable businesses, and staying informed about government policies. The road to net zero requires collective action from all sectors of society.
Gamble For Greener Tomorrow Vikramathitan Govindasamy And Dr Sarmila Muthukrishnan
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