by HARIZAH KAMEL / pic by HUSSEIN SHAHARUDDIN
THE Environment and Water Ministry (KASA) will announce the details of measures subject to a review of the Long-Term Low Emission Development Strategy (LT-LEDS), which will be finalised by the end of 2022.
This is in line with Malaysia’s target for net-zero emissions as early as 2050 in the 12th Malaysia Plan.
Minister Datuk Seri Tuan Ibrahim Tuan Man (picture) said LT-LEDS will outline strategies and actions for mitigation of greenhouse gas (GHG) emissions for the country’s key economic sectors, which will be the basis for determining the country’s net zero direction and target year.
“To support these efforts, economic instruments such as carbon pricing including carbon taxes and domestic carbon trading schemes will be introduced,” he said in a statement yesterday.
He said the net-zero emissions target shows the country’s commitment in addressing the issue of climate change, and having the potential to attract foreign investment into the country, especially low carbon investment and green technology.
He added that this is important to support the sustainable development agenda and elevate Malaysia’s status as a green investment hub.
At the same time, this announcement will also be the direction of the government and other stakeholders to integrate and mainstream climate change issues including GHG emissions in development plans and national policy implementation, said Tuan Ibrahim.
“For the private sector, the target will catalyse the transformation of private companies and industry players towards sustainability through the implementation of environmental, social and governance approaches.
“The government believes that synergies of efforts and cooperation with other stakeholders are key to the success of the climate change agenda as well as contributing to the country’s socio and economic growth,” he mentioned.
The main sectors that will contribute to the net-zero emissions target are the energy sector which includes the activities of electricity supply, transportation, and the oil and natural gas industry; manufacturing and processing industry sector which includes industries such as minerals (cement, lime, limestone), chemicals and metals; agricultural sector such as paddy cultivation, livestock and fertilisation; land use sector, land use change and forestry such as commodities, forestry and deforestation; and waste sectors such as solid waste, domestic sewage waste and industrial sewage waste.