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Rafizi: Economy Ministry to present energy transition road map in three months

Rafizi: Economy Ministry to present energy transition road map in three months

06 Mar 2023

The Ministry of Economy plans to finalise and present the Energy Transition Roadmap, which translates the National Energy Policy into energy transition projects to be led by large, medium and small companies, within three months.

Minister Mohd Rafizi Ramli said Malaysia’s aim to transition to green energy is a strategic agenda that can create high-value jobs, as well as fulfilling its global responsibility to reduce greenhouse gases (GHG).

”There is an increasing need to comply with global green standards, and Malaysian industries should meet the green requirements and standards for us to remain competitive as a trading nation,” he said in a statement on Monday (March 6).

The minister announced that Malaysia had formally joined the Asia Zero Emission Community (AZEC), which is an energy bloc consisting of Japan, Australia, and all Asean countries except Myanmar.

“AZEC is a new initiative to drive energy transition from hydrocarbon sources to clean and renewable energy sources, and a more significant aspiration towards net-zero GHG emissions.  

“The AZEC concept is focused more on cooperation, and is not a binding legal instrument,” he added.

Rafizi said the cooperation forged via AZEC would open opportunities for Malaysia to accelerate green technology transfer and financing for the people’s benefit.

Rafizi led a Malaysian delegation to the AZEC ministerial meeting in Tokyo, Japan on Saturday, accompanied by officials of the Ministry of Economy, the Foreign Ministry, Petroliam Nasional Bhd and the Malaysian Investment Development Authority.

Source: Bernama