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WWF-Malaysia and BCG Launch Securing Our Future: Net Zero Pathways for Malaysia Report
The report is a collaborative effort between WWF-Malaysia and BCG to chart a pathway to Net Zero Emissions for Malaysia by 2050, while addressing the urgency of mitigating the global climate crisis.
It highlights 10 priorities comprising ecosystem conservation as a key response to addressing climate change, climate financing, carbon pricing, promoting innovation and safeguards to people and the environment. It also places equal emphasis on both climate mitigation and adaptation actions.
WWF-Malaysia Executive Director and Chief Operating Officer (CEO) Sophia Lim said this report came at the right time when the Government has pledged its commitment - through the 12th Malaysia Plan and Budget 2022 - to ensure that the country achieves its sustainability goals. This includes becoming a carbon neutral nation by 2050 at the earliest.
Lim said the process of preparing the study, which was officially launched during the recently concluded 26th UN Climate Change Conference of the Parties (COP26) in Glasgow, had spurred crucial discussions about the climate crisis.
She explained that it was just as important to launch the report locally so that stakeholders, ranging from the Government, corporates and civil society organisations, are aware of this resource which can be utilised for their own sustainability agenda.
“For this local launch, we invited experts from various backgrounds to talk about the implication of the net zero pathways. These speakers offer valuable insights from different perspectives such as societal well-being, energy decarbonisation, pricing carbon, climate financing and outlook for future generations,” she elaborated.
According to Lim, major decisions were made during COP26 to protect natural habitats, as well as decarbonise power and transportation.
“We need to protect our natural forest as a carbon sink to capture emissions, and undertake forest restoration to mitigate climate change. Climate financing, with a focus on Nature-Based Solutions and decarbonisation, is paramount.
“WWF-Malaysia had been allocated a seed grant under Budget 2022 to undertake forest restoration and biofuel production. This initiative is a combined effort to combat climate change by restoring our degraded carbon sink, as well as decarbonising power and transportation.
“I hope that we can collaborate with the power and transportation sectors to develop this innovative project that achieves multiple global goals to attract climate financing,” she said.
BCG Southeast Asia Leader for Climate & Sustainability, Dave Sivaprasad said, “Addressing the threat of climate change will require nothing short of a large-scale transformation of the economy – from major shifts in economic sectors to changing the way we produce and consume.”
He stated that changing the course on climate is critical to secure our futures – from economic resilience to trade advantage; from future-proof jobs to green growth opportunities nationwide.
“However, altering our current climate trajectory is a complex undertaking that will need to be carefully orchestrated to unlock benefits and ensure a just and equitable transition for all stakeholders.
The study outlines climate transition pathways that Malaysia can take with a whole-of-nation approach involving government, corporates, civil society, and citizens.
We believe the WWF-Malaysia and BCG report is an actionable resource with practical recommendations stakeholders can consider as they shape their climate transition journey,” Dave underscored.
The event, which began at 3:00pm, saw perspectives and insights on the importance of the net zero emissions pathway for Malaysia, from international, societal and corporate points of view. Among these speakers were Karima El Korri, United Nations Resident Coordinator for Malaysia, Tan Sri Dr. Jemilah Mahmood, and representatives from the Malaysian Institute of Economic Research, Tenaga Nasional Berhad, Bursa Malaysia Berhad, Amundi Malaysia, and MyHutan. The report is now available for download on WWF-Malaysia’s website here
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