17th Green Edition Newsletter #321 - 26 September 2022
Dear Subscriber, |
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Malaysia's Efforts in Combating Climate Change
Climate change issues are becoming more prevalent than ever. This year has witnessed severe weather patterns exacerbated by climate change all over the world. Throughout summer, the UK faced unbearable heat and drought as the country recorded highest temperatures, which breached 40°C for the first time in July 2022. In Malaysia, flash floods caused by intense rainfall are occurring more frequently in major cities.
The government of Malaysia hopes to table the implementation of climate change bill beginning of next year. The bill will strengthen institutions, coordinate actions, monitor progress and streamline data reporting systematically.
The Minister of Environment and Water, Dato' Sri Tuan Ibrahim Tuan Man reiterated that climate change was a serious issue with direct impact on the country's population and food supply.
Meanwhile, Dato' Seri Mohamed Azmin Ali, Senior Minister and Minister of International Trade and Industry recently announced the formulation of a national environmental, social and governance (ESG) framework for the manufacturing sector in tandem with Malaysia's net zero greenhouse gas emissions target by 2050.
The ministry will provide a framework to mainstream ESG elements in the development of the manufacturing sector, which will include four main components, namely ESG standards, financial support and incentives, capacity building and market mechanisms including carbon trading and carbon pricing.
The framework will be formulated based on consultation and engagement with local and international stakeholders involved in manufacturing, regulatory and financial sectors. The progress of the framework is dependent on the level of achievement in engagement and collaboration with stakeholders.
These actions by the government of Malaysia are highly commendable efforts that the industry is ready to support and contribute towards the achievements of Malaysia's net zero goals.
The BMCC is pleased to play a part by raising awareness and inspiring change among businesses in Malaysia with a series of events planned for the Malaysia Climate Action Week from 17 to 21 October 2022. |
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The success of last year's inaugural programme has spurred BMCC to continue this important programme. With the theme, "A.C.T. Now! Adapt, Collaborate and Transcend", this year's Malaysia Climate Action Week aims to inspire more companies to take action and work together in overcoming the impacts of climate change by getting involved in more hands-on experiences.
An interesting lineup of events and activities awaits participants including: Day 1, 17 October 2022: UK Smart Building & Renewable Energy Solutions Webinar Day 2, 18 October 2022: A.C.T. Now Conference & Exhibition Day 3, 19 October 2022: Eco-Site Visit & Corporate Sustainability Workshop Day 3, 19 October 2022: Film Screening & Appreciation Night Day 4, 20 October 2022: The Queen’s Green Canopy Tree Planting Day 5, 21 October 2022: Nocturnal Urban Forest Walk
Explore our microsite here for more information on the Malaysia Climate Action Week 2022. |
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Calling for Participation: Youth Action Video Competition (Closing Date: 11 October 2022)
BMCC, in partnership with the University of Nottingham Malaysia, is organising a Youth Action Video Competition. The video competition aims to celebrate and recognise youth's role in climate action, featuring their innovative ideas to bring positive impacts in their schools or colleges, community or among wider society in Malaysia.
Opened to students aged between 16- and 19-years old, you are required to submit a short video with a duration of between two and three minutes, together with two short write-ups of less than one hundred words each about the video on "Innovative Ideas to Raise Awareness or Reduce Impacts of Climate Change".
We invite BMCC Members from the Education Sector (3-18 years) to encourage your students to participate.
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A.C.T. Now Conference (18 October 2022)
A.C.T. Now Conference will bring together renowned sustainability practitioners and stakeholders to present transformational green initiatives and actionable solutions in line with this year's theme of A.C.T. Now.
The half-day conference will also consists of two C-suite level panel of speakers sharing insights on creating an ESG-engaged organisations, as well as exploring how the built environment sector can contribute to achieving climate goals.
An eco-exhibition showcasing sustainable products and services will be held together with the conference. We will also be recognising the success stories of organisations that were committed to the BMCC Climate Action Pledge last year.
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Nocturnal Urban Forest Walk (21 October 2022)
Let experienced wildlife guide, Steven Wong take you on a 1.5-hour night walk at the Shah Alam Community Forest Trail of Setia Eco Park. With the aid of flashlight, try to spot various nocturnal flora and fauna such as slow lorises, Wagler's pit vipers, red giant flying squirrels and other creatures only seen at night.
BMCC members will be charged RM150, while non-members pay RM250.
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BMCC Climate Action Pledge
Similar to last year, the Chamber also hopes to spur more companies to be part of the BMCC Climate Action Pledge this year. The Pledge encourages signatories to either take initial steps on climate action or to support other organisations through their knowledge and solutions. For more information on the BMCC Pledge, please refer here. |
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Bursa Malaysia Invites Companies to Purchase and Supply Carbon Credits |
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Bursa Malaysia Berhad is launching the Voluntary Carbon Market (VCM) exchange by the end of 2022 and invites interested project developers and project proponents to submit their interest to supply carbon credits for the auction, as well as for the VCM exchange in the medium and long-term period. Similarly, corporate buyers who would like to participate in the auction and purchase carbon credits can reach out to Bursa Malaysia to register through the forms below.
VCM enables companies to purchase voluntary carbon credits from climate-friendly projects and solutions. Voluntary carbon markets will play an important role to support financing for projects and solutions that reduce greenhouse gas emissions (GHG), in line with Malaysia’s net zero GHG emissions aspiration. Through Bursa Malaysia’s VCM exchange, both buyers and suppliers will be able to transact high-quality carbon credits at transparent prices.
By end of 2022, Bursa Malaysia said a supply of carbon credits is to be sold via auction to interested buyers. The auction will enable price discovery for the new standardised carbon credit products to be listed on the VCM exchange. The clearing price from the auction will establish a baseline demand for carbon credits in Malaysia.
Interested suppliers of carbon credits can register here. Interested buyers of carbon credits can register here. |
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Low Carbon Nation Aspiration 2040 Seeks to Contribute RM13 billion to Malaysia's GDP |
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Prime Minister Dato’ Sri Ismail Sabri Yaakob launched the Low Carbon Nation Aspiration 2040 plans as part of the National Energy Policy 2022-2040 recently. The plan, with 9 selected targets, including 50% of urban public transport share and 38% of electric vehicle share by 2040 will see significant contribution to the nation’s economic growth, with potential total investments of up to RM9 billion annually, RM13 billion contribution to the GDP annually, as well as a total job creation of more than 200,000. |
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Marlborough College Malaysia | COBIS Eco Film Awards 2022 |
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In March 2022, the Council of British International Schools (COBIS) invited pupils from across the globe to produce a short film, which showcased a project that they have carried out to help improve the environmental sustainability of their school.
Marlborough College Malaysia (MCM) is delighted to announce that its project “Food for Life, Life for Food” was awarded runner-up in this prestigious competition.
The pupil’s Eco Council and Design Technology Department have collaborated to get the maximum benefit from food waste in the College’s Dining Hall. The leftover food is collected from the Dining Hall and is used to create compost for Barton Farm, MCM’s very own organic farm located within the College grounds, which then helps fuel the growth of the produce at the farm. This produce, such as potatoes and green beans, is then used in the Dining Hall to feed the pupils, and the cycle continues. |
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Standard Chartered Malaysia | Green Efforts with Taman Tugu Projects |
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In a collaboration between Standard Chartered Malaysia and Taman Tugu Project, the bank pledged to plant 500 trees and adopt benches at the park by December 2022 as part of its contribution towards carbon neutralisation and nature conservation efforts in the country. This initiative is in line with Standard Chartered’s ambition to become the world’s most sustainable and responsible bank. |
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Sunway Property | Promoting End-Financing for Green Development Projects |
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Sunway Integrated Properties Sdn Bhd (Sunway Property) and Public Bank Berhad (Public Bank) signed a memorandum of understanding (MOU) to collaborate on property financing for green and sustainable development projects. With this MOU, customers who purchase green-certified properties for both residential and non-residential properties developed by Sunway Property will enjoy Public Bank's Special Sustainable Financing Package. The signing also marked a milestone in both companies' journey together towards a carbon-neutral Malaysia. |
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RM300bil-RM400bil in investments needed for Malaysia to achieve net-zero greenhouse gas emissions by 2050 - New Straits Times |
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Sustainable, ethical banking to enhance Malaysia's banking industry competitiveness - The Star |
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The green king: Charles the environmentalist - Malay Mail |
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Stay up to date with the Chamber’s latest news and activities through this newsletter or follow us on our social media platforms. |
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British Malaysian Chamber of Commerce Berhad 201801018075 (1280091-P) E04C0, 4th Floor East Block, Wisma Golden Eagle Realty, 142-B Jalan Ampang, 50450 Kuala Lumpur Copyright © BMCC 2022 |
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