MalaysianUpdates

Tag: #IGEM2023

  • Cakrawala Hijau: Sasaran Malaysia yang tinggi untuk Ekonomi Berkuasa Hidrogen

    YAB Timbalan Perdana Menteri, Dato’ Sri Haji Fadillah Haji Yusof, hari ini secara rasmi melancarkan Pelan Hala Tuju Teknologi dan Ekonomi Hidrogen (Hydrogen Economy and Technology Roadmap – HETR) di Persidangan dan Pameran Antarabangsa Teknologi Hijau dan Produk Eko Malaysia 2023 (IGEM 2023) yang diadakan di Pusat Konvensyen Kuala Lumpur.

    Hadir sama di majlis pelancaran HETR di IGEM 2023 ialah YB Tuan Chang Lih Kang, Menteri Sains, Teknologi dan Inovasi dan YB Tuan Nik Nazmi Nik Ahmad, Menteri Sumber Asli, Alam Sekitar dan Perubahan Iklim.

    HETR telah dibangunkan oleh Kementerian Sains, Teknologi dan Inovasi (MOSTI) bagi menyokong Aspirasi Negara Rendah Karbon 2040, di bawah Dasar Tenaga Negara 2022-2040. Fokus utama HETR adalah memajukan ekonomi hidrogen negara melalui ekosistem yang inovatif dan komprehensif, dipacu oleh teknologi tinggi untuk membolehkan transisi kepada penggunaan hidrogen bagi mencapai sasaran penyahkarbonan dalam agenda pembangunan sosio-ekonomi yang lebih lestari, selaras dengan aspirasi Malaysia MADANI dan rencana Ekonomi MADANI. Lima (5) teras strategik telah digariskan bagi membangunkan ekosistem hydrogen tempatan yang teguh dan berdaya saing di sepanjang rantaian nilai dan bekalan hidrogen untuk menjadikan Malaysia sebagai salah satu peneraju ekonomi hidrogen dunia menjelang tahun 2050.

    HETR akan meletakkan Malaysia dalam posisi yang menguntungkan di peringkat global kerana potensi sumber dan kelebihan tempatan yang boleh dibangunkan contohnya Tenaga Boleh Baharu (TBB) seperti solar dan hidro untuk penjanaan hidrogen hijau. Negara-negara seperti Jepun, Korea Selatan, China, Australia, dan beberapa negara ASEAN telah mula memanfaatkan hidrogen, terutama dalam bidang mobiliti, industri dan sektor yang intensif dalam penggunaan tenaga, selaras dengan prinsip Alam sekitar, Sosial dan Tadbir Urus (Environmental, Social and Governance – ESG).

    Strategi dan Pelan Tindakan yang digariskan dalam HETR bakal memacu penggunaan hidrogen yang diunjurkan menyumbang kepada pengurangan pelepasan gas rumah hijau (GHG) antara 6% sehingga 15% serta menjana sehingga 200,000 peluang pekerjaan menjelang tahun 2050. Manakala dalam jangka masa pendek, diunjurkan antara 0.4%-1.3% pengurangan GHG dapat dicapai menjelang tahun 2030 bergantung kepada model pelaksanaan yang dicadangkan dalam HETR. Selain itu, penjanaan pendapatan sehingga RM12.1 bilion dengan sumbangan kepada Keluaran Dalam Negara Kasar (KDNK) negara antara RM49 bilion dan RM61 bilion dijangkakan pada tahun 2030 disamping penjanaan peluang pekerjaan antara 8,000 sehingga hampir 45,000 dalam sektor tenaga bersih menjelang tahun 2030.

    Pembangunan keupayaan dan pemacuan teknologi tinggi yang dirancang melalui HETR dengan pendekatan “Bina Sebahagian, Beli Sebahagian (Build Some, Buy Some)” bertujuan menghasilkan hidrogen pada kos yang kompetitif, disokong oleh ekosistem dan kepakaran tempatan. Ini penting untuk memudahcara peralihan kepada hidrogen bagi penggunaan domestik dalam rangka transisi tenaga negara untuk mencapai sasaran penyahkarbonan dan juga untuk eksport hidrogen ke pasaran antarabangsa.

    Pembangunan HETR terkandung dalam Rancangan Malaysia ke-12 (RMKe- 12) dan Dasar Tenaga Negara 2022-2040 (DTN) di mana HETR adalah dokumen sokongan kepada DTN 2022-2040. Agenda hidrogen yang direncanakan di bawah HETR juga diselaraskan dengan Pelan Hala Tuju Peralihan Tenaga Negara (National Energy Transition Roadmap; NETR) Fasa 1 dan 2 yang telah dilancarkan secara rasmi. Manakala Pelan Induk Perindustrian Baharu 2030 (New Industrial Master Plan 2030; NIMP) turut menjadikan hidrogen sebagai salah satu agenda pembangunan industri dan inisiatif pelaburan hijau di bawah pelan tindakannya. Sehubungan itu, MOSTI komited untuk menjayakan pelaksanaan HETR melalui kerjasama konstruktif dengan kementerian, agensi Kerajaan dan juga para pemegang taruh yang lain dalam ekosistem ekonomi hidrogen tempatan khususnya dan peralihan tenaga untuk industri yang lebih mampan amnya.

    HETR merupakan salah satu agenda Kerajaan Perpaduan untuk memacu perkembangan teknologi hijau dan ekonomi rendah karbon di Malaysia. HETR akan membentangkan perincian strategi dan inisiatif, serta menggariskan potensi dan peluang yang boleh dijana melalui pemacuan teknologi dan ekonomi hidrogen.

  • Bursa Malaysia Spearheads Carbon Market Awareness through the VCM Handbook

    During the Bursa Malaysia Carbon Market Forum 2023, industry leaders and experts gathered to discuss the potential impact and opportunities presented by the launch of Malaysia’s Voluntary Carbon Market (VCM) Handbook. The event was part of the larger framework of IGEM 2023, emphasizing the growing importance of sustainable practices in Malaysia’s economic landscape.

    The VCM Handbook is a collaborative effort between Bursa Malaysia Berhad (“Bursa Malaysia” or the “Exchange”) and the Malaysian Green Technology and Climate Change Corporation (“MGTC”), which was initiated through a memorandum of collaboration (“MOC”) signed on 20 February 2023. The VCM Handbook was developed in consultation with NRECC and various ecosystem participants.

    As Malaysia shifts towards becoming a lower carbon economy, the VCM Handbook is a relevant guide designed to assist entities keen on participating in carbon market project development and Malaysia’s voluntary carbon market. The handbook defines the roles and functions of key entities in Malaysia’s carbon market operations, serving as a reference point for market players.

    “We are delighted to complete the VCM Handbook within just six months of the MOC signing, and this demonstrates effective collaboration in fulfilling a need to nurture the development of carbon projects in Malaysia,” said Datuk Muhamad Umar Swift, Chief Executive Officer of Bursa Malaysia.

    “With the increasing prominence on carbon offsets and carbon markets globally, it is imperative that Malaysia acts on the nation’s untapped potential, by developing its VCM ecosystem and implementing high-quality carbon projects. This VCM Handbook is a critical step in ensuring Malaysia’s VCM can truly support the country’s net zero journey,” added Datuk Umar.

    “The VCM Handbook will be a valuable resource to facilitate carbon offset project implementation in Malaysia, where the carbon credit generated will be used by other corporations to meet their net zero targets. The VCM Handbook provides essential information on how it works, key concepts, standard methodologies, and case studies,” shared Ts. Shamsul Bahar Mohd Nor, Group Chief Executive Officer of MGTC.

    He added, “MGTC is honoured to collaborate with bursa Malaysia in developing it. We thank the numerous stakeholders, including federal ministries, state governments, relevant government agencies, carbon consultants, project developers, as well as validation and verification bodies, for their invaluable contributions. In addition to the VCM Handbook, we are pleased to announce the launch of a VCM Directory, another necessary tool to scale up the emerging Malaysia’s carbon credit supply.”

    Datuk Umar also shared plans to promote both the VCM Handbook and VCM Directory at the Malaysia Pavilion during the 2023 UN Climate Change Conference (UNFCCC COP 28) in Dubai later this year. “Our goal is to attract international project developers and investors to participate in the development of high-quality carbon projects in Malaysia, and facilitate the transfer of knowledge, skills and capital needed to rapidly scale up carbon initiatives in the country. This effort is pivotal in supporting domestic corporates in their net zero and carbon neutrality goals, and for fulfilment of the role of the Bursa Carbon Exchange,” he explained.

    The inaugural Malaysia Carbon Market Forum is a half-day event organised by the Bursa Carbon Exchange. With knowledge sharing as the central focus, the forum offered participants the opportunity to learn from both local and leading global experts on global VCM trends and how to leverage and navigate carbon markets and carbon project development. Speakers at the forum included representatives from International Emissions Trading Association (IETA), Verra, Indonesia Carbon Trade Association (IDCTA), Vitol, Sylvera, Permian Global, Shell’s Nature Based Solutions business, EKI Energy Services Ltd., Viridios Capital Pty Ltd and BloombergNEF.

    A copy of the VCM Handbook can now be downloaded from https://bcx.bursamalaysia.com/index.php?rp=vcm_handbook. Companies operating in the carbon market industry can now register their services in the newly established VCM Directory, accessible via https://www.mgtc.gov.my/vcm/.

  • IGEM 2023: Pioneering Sustainable Partnerships for Green Innovation

    The second day of IGEM 2023 showcased a series of crucial partnerships, emphasizing a collective commitment to driving green innovation. Through these partnerships, innovative solutions are anticipated to flourish, contributing significantly to Malaysia’s sustainability goals and the global drive towards renewable energy and eco-conscious practices.

    The MoC signing between Malaysian Green Technology and Climate Change Corporation (MGTC) and Universiti Utara Malaysia (UUM) marks a significant step toward advancing energy efficiency and renewable energy initiatives. The collaboration covers research partnerships focusing on Green Building assessment and renewable energy applications, knowledge exchange, publication sharing, and industry attachment programmes. It also aims to enhance sustainable energy management at UUM’s campus by achieving Energy Management Gold Standard certification and offering student capacity-building programmes. This collaboration will indirectly contribute to the green economy by promoting energy efficiency, renewable energy adoption, and environmental responsibility.

    Meanwhile, the MoC between MGTC and Mont Aero Sdn Bhd signals a joint commitment to develop hydrogen-related technologies focusing on hydrogen production and hydrogen gen-sets. The collaboration includes promoting hydrogen genset usage, converting landfill biogas into green hydrogen, and seeking government grants and funding. With an estimated investment value of RM15 million, this partnership aligns with Malaysia’s National Energy Transition Roadmap (NETR) and the Hydrogen Economy and Technology Roadmap. The aims of this MoC are rooted in environmental sustainability, energy efficiency, waste management, access to funding, national energy goals, and technological progress, all of which collectively contribute to a more sustainable and green energy landscape.

    On the other hand, the MoC between MGTC and SIRIM focuses on energy efficiency and renewable energy initiatives to support the transition towards a sustainable energy future. The collaboration will explore initiatives related to biomass, biogas, and hydrogen, as well as knowledge sharing and utilising SIRIM labs. This partnership is expected to contribute significantly to Malaysia’s NETR regarding energy efficiency and renewable energy targets. It also seeks to harness expertise, resources, and innovative technologies to promote a greener and more sustainable energy future while fostering knowledge sharing, and quality research and development. Ultimately, these efforts align with global initiatives to combat climate change and ensure a cleaner, more sustainable energy landscape for the future.

    Furthermore, MGTC, along with Alya Agro Venture Sdn Bhd, Ain Biomass Industries Sdn Bhd, and Planters International Berhad, has signed an MoC to collaborate on a biomass project that utilises bamboo as feedstock for the production of bamboo pellets and bamboo biochar. This partnership includes the purchase of raw bamboo, expanding production, knowledge sharing, and engagement in nature-based carbon sequestration efforts. The MoC is also motivated by the desire to leverage bamboo as a sustainable feedstock and enhance production capabilities, aligning with Sustainable Development Goals (SDG) 7: Affordable and Clean Energy and SDG 13: Climate Action.

    Ts Shamsul Bahar Mohd Nor, GCEO of MGTC, explained, “This collaboration will contribute to the green economy by providing a renewable energy source, creating local jobs, promoting trade and export, and mitigating climate change through carbon sequestration. A pilot project on bamboo as biomass feedstock is underway to support the bioenergy transition and the NETR.”

    MGTC and Bank Pembangunan Malaysia Berhad (BPMB) have also signed an MoC focusing on corporate sustainability by adopting the Low Carbon Operating System (LCOS), a cloud-based platform for carbon management. This collaboration was made to advance corporate sustainability, reduce carbon emissions, promote knowledge sharing, raise climate change awareness, adopt green technology solutions, provide access to green financing, and actively participate in global climate initiatives, all in alignment with environmental stewardship and climate action goals. BPMB will also partner with the Malaysia Pavilion at COP28 (Conference of Parties) as part of their commitment to environmental stewardship. Also present during the signing ceremony was YB Nik Nazmi Nik Ahmad, Minister of Natural Resources, Environment and Climate Change.

    The Green Technology Financing Scheme (GTFS) 4.0 launch highlights the financial support for various green sectors, including energy, manufacturing, transportation, building, waste, and water. The scheme provides attractive incentives to SMEs, mainly the 1.5% interest/profit rebate for the first five to seven years and a 60%-80% government guarantee on financing.  The appointed implementing agencies for GTFS 4.0 are MGTC and Credit Guarantee Corporation Malaysia Berhad (CGC) (the scheme administrator). MGTC and CGC will collaborate with Participating Financial Institutions (PFIs) to encourage local companies and entrepreneurs to participate in green technology projects and support the national green technology agenda.

    Ts Shamsul Bahar added, “The collaborations announced on the second day of IGEM 2023 are poised to accelerate Malaysia’s transition to a sustainable, green future, driving economic growth, job creation, and environmental responsibility.”

  • Reliability and Resilience: Ministry of Health and SDCL Focus on Energy for Critical Care Services

    SDCL, the world’s leading specialist investor in energy efficiency, has partnered with Malaysia’s Ministry of Health, MGTC, and MyHijau companies during the groundbreaking Malaysia First Energy Efficiency Forum. This collaboration aims to initiate projects that bring about noteworthy reductions in carbon emissions and considerable cost savings.

    Hospitals are one the largest and most consistent energy users with the crucial role they play. SDCL brings deep sector experience in demonstrating how energy efficiency can deliver cheaper, cleaner and more reliable infrastructure solutions to a key infrastructure sector. Malaysia hospitals need reliable and cost-effective energy services throughout the year, ranging from electricity and heat, to hot water and cooling. Hospitals also demand reliable and resilient energy solutions and backup systems. Energy demand reduction initiatives involving lighting and temperature control may also improve patient care.

    Through the IGEM engagement, MoH, MGTC and SDCL are setting a pathway to accelerate identifying fit-for-purpose solutions in Malaysia that require no up-front capital outlay for the user and result in lower operating costs. Through focusing on energy efficiency, hospitals can deliver cleaner, more resilient energy solutions that reduce maintenance costs and increase productivity.

    SDCL CEO Jonathan Maxwell states “Our investments in energy efficiency demonstrate that energy efficiency is not only one of the largest but the most cost-effective means to reduce greenhouse gas emissions as it improves resilience and energy security while also reducing costs and improving productivity. It is infact a major source of green growth”.

  • Malaysia’s Vcharge Asia Introduces Revolutionary EV Charging App

    Vcharge Asia, a leading e-mobility service provider from Malaysia, showcased its cutting-edge electric vehicle (EV) charging solutions at the prestigious International Greentech & Eco Products Exhibition & Conference Malaysia (IGEM) 2023. This unveiling marks a significant stride towards enhancing accessibility, convenience, and sustainability for EV users throughout Malaysia.

    A brand aligned under Ocean Vantage Holdings Bhd (KLSE:OVH), Vcharge Asia is dedicated to establishing an extensive network of EV charging infrastructure and digital services. The focus is on enhancing charging speed and efficiency of their Targeted 100 EV charging infrastructure across Malaysia, with a remarkable achievement of reducing the usual 3-hour charging time to just 30 minutes. This breakthrough represents a substantial over 80% increase in charging duration.

    “As Malaysia’s sustainability industry continues to flourish and gain momentum, the nation is more receptive towards sustainable transportation solutions. With our newly launched charging infrastructure, we are not just increasing charging speed; we are fundamentally reshaping the entire EV experience. We believe that the future of mobility should be fast, convenient, and sustainable. Together, we are expediting the transition to a cleaner, greener future — one where EVs play a pivotal role in transforming how we move and reducing our environmental footprint,” said Kenny Ronald Ngalin, Founder of Ocean Vantage Holdings. 

    Vcharge employs an innovative approach to charging infrastructure by strategically positioning its stations in municipal council-owned parking lots, specifically catering to busy office and commercial hubs, further increasing accessibility and engagement for users.

    Working on the Open Charge Point Protocol (OCPP), the Vcharge platform is compatible with over 50 brands of EV charging equipment. Their network expansion includes both their in-house brand and the seamless integration of other charging equipment brands, reflecting their commitment to versatility and user accessibility.

    More than charging infrastructure, EV users can now digitally monitor and manage the entire charging process through its all-in-one platform. The Vcharge app allows users to effortlessly navigate their entire driving experience, from finding the nearest charging station and checking real-time charging point availability, to monitoring the charging progress remotely.

    Kenny further added “The core of the Vcharge app is to simplify every aspect of EV charging for a user-centric and hassle-free experience. Coupled with our strategic positioning of charging points within city limits to push the EV movement forward, we hope to continue complementing government initiatives to expand coverage along long-distance routes.”

    Vcharge Asia boasts an extensive portfolio of EV charging equipment from DC charging modules, portable DC chargers, and well-mounted AC chargers, among others. The brand’s bespoke solutions cater to diverse EV requirements, ranging from personal cars to public buses.

    Moving into 2024, Vcharge Asia is set to expand its impressive portfolio — leveraging on their expertise as solution providers, the brand’s next steps include initiating the installation of chargers in car parks managed by DBKL, Putrajaya, MBSJ, and MBPJ. Concurrently, in homage to their roots, installation of the same chargers will commence in Miri, and other cities in Sarawak.

    For more information about Vcharge Asia, log on to www.vcharge.asia.

  • IGEM 2023 Showcases Visionary Approaches for a Net Zero World

    The 14th International Greentech & Eco Products Exhibition & Conference Malaysia (IGEM 2023) was officially inaugurated today by YAB Dato’ Sri Haji Fadillah Haji Yusof, Deputy Prime Minister representing YAB Dato’ Seri Anwar Ibrahim, the Prime Minister of Malaysia. The event aims to attract RM4 billion in business opportunities and welcomes an anticipated 40,000 visitors from 40 countries. The ceremony saw the presence of cabinet ministers, ambassadors, international delegates, and other esteemed dignitaries.

    Organised by the Ministry of Natural Resources, Environment and Climate Change (NRECC) and co-organised by the Malaysian Green Technology and Climate Change Corporation (MGTC), IGEM 2023, Southeast Asia leading trade event for green technologies and eco solutions, has an impressive track record of having delivered RM41 billion in business leads, over 530,000 visitors from over 112 countries since 2010.

    Referring to the Prime Minister’s speech YAB Dato’ Sri Haji Fadillah bin Haji Yusof said, “Transitioning to a net-zero world calls for nothing less than a complete transformation of how we produce, consume, and move about. A growing coalition of countries, cities, businesses, and other institutions are pledging to get to net-zero emissions. More than 70 countries have set a net-zero target.”

    “Without a doubt, IGEM 2023 plays a decisive leadership role in accelerating and delivering the region’s Net Zero and just energy transition agenda. There are enormous opportunities to steer us to sustainability while ensuring robust economic and social progress. Something that is exemplified in the Malaysia Madani way of life that my government is strongly advocating and adopting,” he added.

    During the opening ceremony, YAB Dato’ Sri Haji Fadillah bin Haji Yusof unveiled the much-awaited Hydrogen Economy and Technology Roadmap, to unlock the prospect of harnessing a new energy carrier and the knock-on economic effects it would bring. Additionally, Leader Energy signed a strategic partnership with BASF Stationary Energy Storage GmbH, to promote the development of long-duration energy storage projects in Southeast Asia, having already identified 8 LDES projects with a total estimated value of RM1.8 billion.

    YAB also witnessed the signing of a memorandum of understanding (MoU) among PMB Aluminium Sdn. Bhd., Sumitomo Corporation Asia & Oceania Pte. Ltd and Nandina Remanufacturing Pte. Ltd. to expand the use of raw materials derived from retiring aircraft such as airplanes and helicopters, aligning with their shared vision of growing the circular economy to drive sustainable manufacturing.

    Furthermore, during the opening ceremony, Tenaga Nasional Berhad unveiled the Malaysia Green Attribute Trading System, or mGATS, as a national marketplace for Malaysia Renewable Energy Certificates (mREC), as part of the Government’s efforts to further propel the RE sector.

    Delivering the welcoming remarks, Minister of Natural Resources, Environment and Climate Change, YB Nik Nazmi Nik Ahmad said, “Having had the opportunity yesterday to personally meet with some of the delegates, visit the exhibition floor and take part in some of the conference sessions, it is clear to me that IGEM’s role as one of ASEAN’s leading trade events for green tech and eco products remains as relevant today as it was when its doors first opened in 2010.”

    “The government’s energy transition intent under the National Energy Transition Roadmap augurs well with my Ministry’s current effort to decarbonise the power sector through accelerated deployment of RE capacity in our power installed capacity from the existing 25% to 70% in 2050,” he concluded.

    The exhibition floor is organised by the sub-themes of Empowering Cities, Electrifying Mobility, Decarbonising Energy, Accelerating Circularity and Conserving Biodiversity with leading corporations such as UOB, Cypark Resources Berhad, Polymateria Limited, Bio Eneco, Lenovo, Canadian Solar and Cradle Fund making a presence with their impressive booths. The exhibition also features pavilions for Austria and Canada.

    Some of the prominent Malaysian participants include the Ministry of Health (MOH), the Ministry of Science, Technology and Innovation (MOSTI) and the state of Sabah, to name just a few. A key highlight of IGEM this year is the AtoZero ASEAN Summit which is co-located and runs concurrently with the event. Powered by Gentari, the Summit convenes the who’s who from across the net zero value chain, including key decision makers and changemakers to comprehensively explore pathways, policies and business opportunities to drive the global net zero transition agenda.

    IGEM is hosting several conferences on topics such as climate change, low-carbon cities, science and innovation, hydrogen economy, waste management, circular economy, water, energy efficiency and the United Nations Sustainable Development Goals.

    IGEM is also featuring the much-in-demand business networking sessions organized by the Malaysian Investment Development Authority (MIDA), Malaysia External Trade Development Corporation (MATRADE) and MGTC.

    During the three-day event, numerous Memoranda of Understanding (MoUs) are being signed between Malaysian and international parties, reinforcing their commitment to collaborate in the race towards net zero.

    For further details on IGEM 2023, please visit www.igem.my.

  • Advancing Finance with Values: World’s First Shariah-compliant Greentech Fund by Malaysian Green Technology and Ficus Capital

    Ficus Capital, a prominent investment firm focusing on Environmental, Social, and Governance (ESG) and Islamic investments, partnered with Malaysian Green Technology and Climate Change Corporation (MGTC) to pioneer the world’s first Shariah-compliant Greentech Fund. The initiative was officially launched during the International Greentech & Eco Products Exhibition & Conference Malaysia (IGEM 2023) at the Kuala Lumpur Convention Centre, with YB Dato’ Sri Huang Tiong, the Deputy Minister of NRECC, presiding over the ceremony.

    The primary objective of the Greentech Fund is to channel investments into green technology projects and enterprises that contribute to Malaysia’s ambition of achieving net-zero greenhouse gas emissions as early as 2050. The setup adheres to Securities Commission rules for Sustainable and Responsible Investment, which mandate that the fund incorporate sustainability considerations such as the Sustainable Development Goals (SDGs) or United Nations Global Impact (UNGC) Principles.

    The Greentech Fund is dedicated to promoting green growth in which investors will actively participate in GHG emissions reduction and avoidance as well as carbon offset schemes and reap financial rewards. This demonstrates how closely the fund adheres to ESG guidelines and highlights its potential to investors looking for financial gain and environmental impact.

    The investments are expected to reduce or avoid more than 9 million tons of greenhouse gas emissions through projects across various green industry sectors, such as Renewable Energy, Biofuel and Biomass Conversion, Waste Management and Biogas, Sustainable Agriculture and Forestry, Sustainable Transportation, and other environmental projects which complement several SDG pillars.

    Investing in green projects and companies harmonises perfectly with our ‘Madani Economy: Empowering the People’ framework, aiming to enhance lives and reshape our economic landscape.” said Ts Shamsul Bahar Mohd Nor, Group Chief Executive Officer of MGTC.

    Over the past 25 years, MGTC has led Malaysia’s green industry, bringing in substantial green investments worth over RM50 billion, that have reduced 16.4 million metric tonnes of GHG emissions and creating over 23,000 green jobs. Initiatives such as the Green Technology Financing Scheme (GTFS), MyHIJAU Mark, and Green Tax Incentives have catalysed positive change in the green economy sector.

    GTFS has played a pivotal role in propelling green technology development in Malaysia by providing essential financial backing. Yet, throughout its implementation since 2010, there is a notable financing gap of RM14.5 billion. The demand for green capital and green financing outweighs the supply. Greentech Fund can complement these efforts by providing equity-based financing to green companies and green projects. This approach can encourage innovation, entrepreneurship, and the growth of sustainable businesses in Malaysia, thereby expanding the landscape of sustainable funding options for green companies.

    “A tactical approach to address these financial gaps is establishing the Greentech Fund. This will support innovation, encourage entrepreneurship, and propel the expansion of sustainable enterprises in Malaysia by providing equity-based funding to green projects and businesses. It significantly expands the sustainable finance choices accessible to eco-friendly projects and businesses. This aligns with our goal of decreasing carbon emissions, contributing RM100 billion in green investment, and creating 230,000 green jobs by 2030.” Ts. Shamsul Bahar added.

    Ficus Capital recognises the vast potential within green investments, particularly in Southeast Asia, primarily focusing on Malaysia. “Our fund is strategically designed to offer attractive returns to investors while aligning with their growing interest in climate change mitigation opportunities. Partnership with MGTC is pivotal in advancing the growth of projects and companies in Malaysia while reinforcing our dedication to fostering sustainability and contributing to the nation’s green aspirations,” said Abdullah Hidayat, Co-Managing Partner of Ficus Capital.

    Unlike conventional financing, this fund adheres to Shariah principles, ensuring fair and transparent contracts for its fund’s projects and companies. Fair in this context means that the fund will not impose any interest charges in its investment agreements, and transparency shows that contracts are based on market prices and risk-sharing arrangements.

    The fund is fully aligned with ESG principles, making it a champion of responsible investing. The fund focuses on the Quadruple Bottom Line, encompassing People, Planet, Profit, and Principle. This framework is an integral part of the larger ESG-Islamic framework embraced by the fund, highlighting its dedication to holistic sustainability.

  • ATOZERO ASEAN 2023, THE GATEWAY TO MULTI-BILLION DOLLAR NET ZERTRANSITION PROJECTS IN ASIA, KICKS OFF AT IGEM

    The AtoZero (Accelerate To Net Zero) ASEAN Summit, co-organised by Constellar and the Malaysian Green Technology and Climate Change Corporation (MGTC), kicked off this morning with 700 leaders from the net zero value chain participating in the 3-day event. Co-located and held concurrently with the International Greentech & Eco Products Exhibition & Conference Malaysia (IGEM) 2023, the Summit is part of a global series of events dedicated to net zero transition through driving leadership dialogues, investments and innovations around Asia’s net zero pathways.

    Powered by clean energy solutions provider, Gentari, AtoZero ASEAN emerges as the gateway to multi-billion dollar net zero transition projects in Asia. Southeast Asia’s power sector alone would require US$184 billion investment between 2021-2025 in the baseline scenario.

    The Summit also unveiled the Zero Club, a unique and exclusive feature across the AtoZero Global series in ASEAN, India and China, welcoming policymakers, CEOs and think-tank leaders to connect, collaborate and co-create positive impact across the net zero value chain. Zero Club at AtoZero ASEAN serves as a networking platform to connect the most important stakeholders of net zero transition to spark influential dialogues in accelerating net zero transition across Asia.

    Delivering the keynote address, the Minister of Natural Resources, Environment and Climate Change, YB Nik Nazmi Nik Ahmad said, “For ASEAN to be a determining factor in the just energy transition, we need to discuss and reach consensus on pressing and pertinent topics such as regional inter-connectivity partnerships, energy storage, carbon capture, green financing, hydrogen economy and ASEAN future grid among others.”

    “AtoZero ASEAN’s inclusion into IGEM is significant in enabling us to race to net zero and demonstrate leadership in climate action by significantly influencing policy makers and game changers in the net zero arena. The event’s focus on accelerating ASEAN’s net zero transition highlights the importance of regional partnership to support this transition, fostering the kind of conversations we need to have to take our actions in ASEAN to the next tangible level for real impact,” he added.

    AtoZero ASEAN’s overarching aim is to bring together key decision makers and changemakers to comprehensively explore pathways, policies and business opportunities to drive the global net zero transition agenda. The three-day programme will see over 100 subject matter experts from around the world sharing insights on net zero dialogues and partnerships.

    Some of the eminent speakers and participants at the Summit included the top-brass from PETRONAS, International Gas Union, Tenaga Nasional Berhad, Gentari, India Renewable Energy Development Agency, Rystad Energy, Solarvest, Sumitomo Mitsui Banking Corporation, Bursa Malaysia, Pertamina, Chevron, ASEAN Centre for Energy, Aboitiz Power and UN Global Impact, amongst others.

    Constellar’s Chief Executive Markets, Paul Lee said, “We are immensely grateful for the strong governmental and industry support towards AtoZero which clearly highlights the net zero potential in ASEAN and the pivotal role that AtoZero ASEAN can play. We are confident our delegates will be enriched by the experience and expertise of eminent speakers, decision makers and leaders present here. We have created a platform for influencing policy change and facilitating impactful collaborations – two key aspects to secure a sustainable net zero future for all of us.”

    The three-day summit and exhibition is structured on the four key pillars of the net zero value chain, ie., renewables, hydrogen, carbon capture, as well as gas and LNG, covering pertinent and pressing topics such as regional inter-connectivity partnerships, unlocking renewable energy opportunities through energy storage and digitalisation, carbon capture, utilisation and storage in ASEAN’s transition, green energy financing, hydrogen economy, ASEAN future grid and corporate net zero transition pathways.

    MGTC’s Group CEO, Shamsul Bahar Mohd Nor said, “The AtoZero ASEAN Summit is off to a great start and we are delighted with the synergistic move to include it as part of IGEM 2023. The AtoZero ASEAN Summit is a fantastic avenue for businesses, organisations and others to begin planning to address climate induced risks. Given the line-up of well-known speakers and delegates, I am certain that our partnership with Constellar will take IGEM to a much higher level, both in terms of richness of content and influence across the region.”

    Over the next few months, AtoZero will also be held in India and China, following a similar format of high value content and eminent speakers to eventually take the conference, exhibition and networking experience well beyond ASEAN.

    For further details on AtoZero ASEAN, visit https://atozero.energy/asean/.

  • Malaysia Takes a Leap in Climate Education with Innovative Simulator

    The Ministry of Natural Resources, Environment and Climate Change (NRECC), in partnership with the Malaysian Green Technology and Climate Change Corporation (MGTC), has officially unveiled the Malaysia Climate Action Simulator (MCAS). YB Nik Nazmi Nik Ahmad, the Minister of NRECC, presided over the formal launch event at the esteemed International Greentech & Eco Products Exhibition & Conference Malaysia (IGEM 2023), held from 4-6 October at the Kuala Lumpur Convention Centre.

    Funded by the UK Government’s International 2050 Calculator Programme and supported by esteemed technical partners, Mott MacDonald, Imperial College London, Ricardo, and CLIMACT, MCAS is a groundbreaking tool designed to empower users to simulate technically feasible low-carbon future scenarios up to the year 2050. It offers a dynamic visualisation of Malaysia’s carbon emission trajectory and facilitates a comprehensive exploration of diverse pathways to mitigate greenhouse gas (GHG) emissions across critical sectors, including energy, transport, building, industry, land use, and waste.

    MCAS is a versatile communication tool to increase public awareness about the critical role of technology, policy, and behaviour in reducing GHG emissions. Furthermore, it is a valuable reference tool for businesses transitioning towards green technology solutions. Featuring an interactive and user-friendly web interface, MCAS empowers users to simulate different behaviours, navigate technological options, select potential pathways, and identify sector-specific roles.

    It also offers a common language for discussion on climate change mitigation measures. It provides the means to plan and visualise decarbonisation pathways and make a comparative analysis. MGTC will actively engage potential users through events dedicated to introducing and demonstrating MCAS as an educational and awareness communication tool. This outreach will primarily target industry stakeholders, universities, research institutes, non-governmental organisations, and the public.

    GCEO of MGTC, Ts. Shamsul Bahar Mohd Nor, expressed enthusiasm about the future of MCAS, saying, “MGTC has strategic plans to collaborate with universities in developing educational modules centered around MCAS and integrating it into the university curriculum. Additionally, MCAS remains open for further research contributions, aiming to facilitate more informed and rational decisions on various pathways to mitigate GHG emissions in Malaysia.”

    Her Excellency Ailsa Terry CMG, British High Commissioner to Malaysia, welcomes the rebrand and launch of the Malaysia carbon pathway calculator – MCAS, and said, “The UK is working closely with international partners like Malaysia to address the global climate challenges. Since 2012, the UK has committed £6 millions of International Climate Finance to the international community to support the creation of their respective 2050 Calculators. So far, we have helped create 19 national and 6 regional Calculators which have been used to develop NDCs and action plans, raise awareness and inform long-term strategies.

    “The launch of MCAS is a culmination of our knowledge sharing and technical collaboration with Malaysia, and I am pleased that it plays a role in mitigating greenhouse gas emissions across key sectors in Malaysia. This is part of our ongoing ambitious partnership with Malaysia to address the shared challenge of climate change and energy transition.”

    Mott MacDonald’s 2050 Calculator Programme Country Manager in Malaysia, Danny Giam, who has overseen the development of MCAS said “Mott MacDonald is delighted and excited to see the launch of the Malaysia Carbon Calculator (MCAS) come to fruition. I am excited and look forward to seeing the tool being adopted by various stakeholders from different backgrounds in the near future. It will be an important enabler in Malaysia’s journey to achieve zero net emission by 2050.”

    To access the Malaysia Climate Action Simulator (MCAS) webtool and embark on the journey towards a sustainable, low-carbon future, please visit www.mcas.my.

  • Green Innovations: MGTC’s Influential Partnerships Unveiled at IGEM2023

    On the third day of IGEM 2023, a prominent event showcasing greentech and eco-friendly products, Malaysian Green Technology and Climate Change Corporation (MGTC) revealed a new set of pioneering collaborations and projects, focusing on promoting environmental stewardship and climate action within Malaysia.

    In partnership with the UK Government, MGTC is proud to introduce the Malaysia Climate Action Simulator (MCAS). MCAS is a simulation tool to enable stakeholders to visualise low-carbon future scenarios through 2050. This cutting-edge tool will facilitate the exploration of pathways to mitigate greenhouse gas (GHG) emissions in various sectors, including energy, transport, building, industry, land use, and waste. MCAS is a vital communication tool to raise awareness about the impact of technology and policy choices on GHG emissions. In a bid to promote sustainability education, MGTC is also collaborating with universities to develop educational modules centered around MCAS, potentially integrating it into a university syllabus, MCAS is open to further research contributions, fostering informed decision-making for a sustainable future. The MCAS web tool can be accessed at www.mcas.my.

    MGTC is also thrilled to announce a strategic Memorandum of Cooperation (MoC) with the National Water Services Commission (SPAN) in support of sustainability in Malaysia’s water sector. This partnership will focus on the adoption of the Low Carbon Operating System (LCOS) for measuring carbon emissions. MGTC will provide onboarding support for LCOS, while SPAN, as the regulatory authority, will lead the widespread adoption of this platform.

    Together, they aim to drive environmentally responsible water management practices, aligning with Malaysia’s commitment to a greener future. The collaboration’s total value is RM368,265.20, covering the measurement of Scope 1, Scope 2, and Scope 3 emissions for SPAN and 12 water operators. This partnership also encompasses the promotion of climate change awareness, LCOS adoption, and the establishment of a standardised system for carbon emissions measurement and reporting in the water industry.

    In addition, an MoC has also been established between MGTC and Greehill Asia-Pacific Pte Ltd, aiming to explore and evaluate potential joint endeavours in the domain of urban green infrastructure and ecosystem services management. This partnership will encompass comprehensive surveys, automated inventory processes, tree risk analysis, quantification, visualisation, reporting, and monitoring of urban green infrastructure, enhancing urban planning and sustainability efforts. These activities are designed to bolster urban planning initiatives, enhance sustainability practices, and ultimately contribute to the development of more environmentally resilient urban environments.

    In a significant stride towards plastic circularity and sustainability, MGTC has forged a Memorandum of Collaboration (MoC) with the Malaysian Recycling Alliance (MAREA). This collaborative effort seeks to harness MGTC’s position in promoting green growth and MAREA’s specialization in Extended Producer Responsibility (EPR). Together, they aim to establish strategic alliances, facilitate the exchange of technical expertise, implement capacity development programs for EPR, foster eco-design and eco-innovation in plastic packaging, and educate communities about the principles of plastic circularity. This partnership is aligned with Malaysia’s overarching green growth strategies and the objectives outlined in the Malaysia Plastic Sustainability Roadmap (MPSR).

    GCEO of MGTC, Ts Shamsul Bahar Mohd Nor mentioned, “These initiatives and partnerships collectively reflect MGTC’s unwavering commitment to fostering sustainability, environmental responsibility, and climate action in Malaysia. These collaborations span a wide spectrum of critical areas and exemplify Malaysia’s dedication to building a greener and more sustainable future.”

    “These collaborations not only coincide with Malaysia’s initiatives for environmentally sustainable growth and the SDGs, but also serve as essential contributors to addressing worldwide challenges associated with climate change. As we progress, MGTC remains steadfast in its commitment to these transformative initiatives, guided by a distinct vision of constructing a more sustainable and resilient future for all, leaving no one behind,” he added.