- Category: Asia
07 Dec 2012
- Published on Friday, 07 December 2012 08:43
- Hits (3263)
Malaysian Prime Minister Najib Razak recently highlighted the country’s accomplishments and activities in the low-carbon sector, saying they are on the way to developing clean technology.
Mr. Najib, who is also the country’s finance minister, said billions of investments have been allocated for clean technology infrastructure. An example is the Iskandar Malaysia, a “smart metropolis” under way which is said to become Southeast Asia’s first green megacity that will be home to three million people.
"Plans are also afoot to build a Southeast Asian high-speed rail network, initially connecting Kuala Lumpur with Singapore, but eventually reaching China," he added.
Mr. Najib said the country is now a major producer of clean energy products like solar panels and L.E.D. lighting.
Latest News - Business
- W.W.F. releases sustainable finance guide for banks
- Are green investments a wise choice?
- Why is green the new black: The advantages of an eco-friendly business
- Alstom to provide Austrian pumped-storage power station with equipment
- Green Business Tax Breaks: How becoming eco-friendly can pay off for your business
Additionally, the government has implemented a feed-in tariff scheme to boost the country’s domestic deployment of renewable energy sources and expand the energy mix.
"We seek to grow and diversify these sectors, so we can lead the low carbon economy of the future," reported Bernama, Malaysia’s national news agency.
In the future, Malaysia aims to become the exporter of 20 percent of the world’s global supply of rare earth elements, key materials for clean technology products including hybrid cars and wind turbines, through a new production plant.
This facility alone will contribute 1 percent to the nation’s gross domestic product, highlighting the economic rationale of leading the clean economy, Mr. Najib noted.
Under its National Green Technology Policy, Malaysia identified four major sectors as priorities for green technology development. These are energy, building, water and waste management and transportation.
“Green Technology shall be a driver to accelerate the national economy and promote sustainable development,” it stipulated.
The policy aims to facilitate the growth of clean technology industry and improve its contribution to the national economy. It further seeks to raise national capability and capacity in delivering clean technology innovations and enhance Malaysia’s competitiveness in the global scale.
Malaysia seeks to cut its carbon emissions by 40 percent by 2020 from 2005 levels. – EcoSeed Staff