Malaysia’s Green Economy To Be Active Next Year

Posted on December 22, 2011. Filed under: Environmental Economics |

(Bernama) — Malaysia’s green economy is expected to be active next year despite a moderate economic growth with the entrance of new players and the development of more green products, supported by greater awareness among businesses and the public.

Green Age Solar Technology Sdn Bhd general manager, Andy Ang, said the green technology industry is growing as more industries continue to be involved in the conservation and preservation of the environment through green technologies.

“We foresee new players entering this industry to join in the green effort. Overall, the world is waking up to green technology and embracing the use of green products,” he told Bernama here today.

Green Electric Sdn Bhd director for corporate and business development, Kirby Lee, said the green economy will continue to be in focus and promoted by the Malaysian government as the country is committed to reduce carbon dioxide (CO2) emissions by 2020.

“I believe the green economy will be a key thrust of the government’s growth strategy, as seen in the coming into force of various regulations such as the feed-in-tariff and focus on electrification projects in the rural areas,” he said.

Meanwhile, the Schneider Electric Inspiration 2011 poll showed that the future for going green looks bright and Malaysian businesses are keen to invest in energy-efficient solutions where 79 per cent of the respondents said they will include energy efficiency into their business operations.

Schneider Electric Malaysia country president, Peter Cave, said with the support from the Ministry of Energy, Green Technology and Water, businesses are starting to acknowledge the benefits of going green and are adopting various strategies to ensure long-term sustainability.

“Malaysians are aware that being ‘green’ is good for the planet and for their pockets but the costs of implementing these initiatives remain a barrier,” he said.

Cave said if there are suitable incentives for investment and adoption, it will spur businesses to be more sustainable and energy-efficient and that Malaysia will be on a more positive track to a greener economy.

The Construction Industry Development Board (CIDB), which has been involved in green technology for over 10 years, said the green technology agenda in the Malaysian construction sector will continue to be progressively meaningful as it represents a critical and vital strategic intent.

A CIDB spokesperson said the widespread availability and recognition of green technology in terms of products, equipment and systems are the responsibility of all players in the construction value chain.

“It is my hope and on-going aspiration to see the interests and emphasis, especially in the arena of best practices and choices, being pursued by the contracting community,” he said.

Malaysia’s vision in promoting green economy saw the launch of an ambitious plan to build a ‘green economy’ by Prime Minister Datuk Seri Najib Tun Razak on May 18, 2011 at the eminent 42-member Global Science and Innovation Advisory Council in New York.

The plan to build a ‘green economy’ will involve the help by an advisory council that includes economist Jeffrey Sachs and the United Nation climate change chief.

“Malaysia’s vision of a ‘green economy’ would see it moving beyond its status as a manufacturing hub, and establish low-carbon emissions, highly efficient use of resources, and a healthy, well-educated populace,” said Najib.

In the 2012 Budget, Najib also proposed full exemption of import and excise duty on hybrid and electric cars to continue to be given to franchise holders to promote green technology and ensure sustainable development of the nation.

He also urged financial institutions, businesses and agencies to work together and be more innovative in realising the global call for green technology.

On Nov 25, it was reported that the Cabinet has approved a green neighbourhood and low carbon city framework and assessment system, aimed at reducing the nation’s carbon emissions.

Housing and Local Government Minister, Datuk Seri Chor Chee Heung, said the guidelines would bring the country a step closer to achieving its goal of reducing its carbon footprint by 40 per cent by 2020, as announced by Najib in Copenhagen last year.

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