Malaysia announces Low Carbon Aspiration 2040 initiative

September 20, 2022 | 20:40

(0) user say

Malaysia’s average Gross Domestic Product (GDP) is set to expand by 13 billion RM (2.85 billion USD) a year with the implementation of the Low Carbon Aspiration 2040 initiative, according to Prime Minister Ismail Sabri Yaakob.

Kuala Lumpur – Malaysia’s average Gross Domestic Product (GDP) is set to expand by 13 billion RM (2.85 billion USD) a year with the implementation of the Low Carbon Aspiration 2040 initiative, according to Prime Minister Ismail Sabri Yaakob.

Malaysia announces Low Carbon Aspiration 2040 initiative

Prime Minister Datuk Seri Ismail Sabri Yaakob (R) at the launch of the National Energy Policy 2022-2040 in Putrajaya, September 19

Speaking at a ceremony to unveil the initiative, the PM said the initiative under the National Energy Policy 2022-2040 is also expected to create 207,000 new jobs.

It will help the country achieve net zero gas house emissions (GHG) in 2050 in face of challenges posed by energy transition and climate change, he added.

The aspiration has nine targets to be achieved by 2040, among them shared mode of public transport of 50%, use of electric vehicles (EVs) of 38%, use of the B30 mixed fuel for heavy vehicles as an alternative fuel as well as energy savings of 11% for industry and commercial use and 10% for residential use.

The PM also affirmed that the government is confident that the initiative is capable of ensuring that the energy sector is always ready to face future challenges.

Malaysia calls for promoted digital economy, green technology in ASEAN

Malaysian Minister of International Trade and Industry Mohamed Azmin Ali has called on ASEAN member states to promote digital economy and green technology to generate real and direct benefits to micro-, small- and medium-sized enterprises (MSMEs) and people.

Malaysia likely to achieve 16 billion USD in digital investments: PM

Malaysian Prime Minister Ismail Sabri Yaakob has expressed his confidence in the country’s ability to achieve the 70 billion RM (16 billion USD) digital investment target by 2025, in line with the digital economy blueprint.

By VNA

What the stars mean:

★ Poor ★ ★ Promising ★★★ Good ★★★★ Very good ★★★★★ Exceptional