The Malaysian government is set to open third-party access to the national electricity grid with the launch of the Corporate Renewable Energy Supply Scheme (CRESS), an initiative that focuses on the supply of green electricity, starting in September.

CRESS will allow electricity buyers to directly negotiate pricing with renewable energy power plants. This marks a significant shift from the current system where end-users source their electricity from Tenaga Nasional Bhd (TNB), the sole operator of the national grid.

While the statement from the Ministry of Energy Transition and Water Transformation did not specify the charges for third-party grid access, it highlighted that the programme will be open to new renewable energy power plants. Plants providing firm output will have lower access charges compared to those without firm output.

The programme will cater to new electricity customers of medium and high voltage, as well as existing customers with additional electricity demand. A direct grid connection between the power plant and the customer is required.

The single buyer and grid system operator will manage the market and system operations. TNB will continue its role as the utility supplier, ensuring consistent electricity supply to consumers, even beyond the periods when green electricity is provided.

CRESS aims to de-risk and reduce national electricity supply costs while fostering healthy competition among green energy developers. This initiative is expected to attract more local renewable energy industry players and transition the focus from power purchase agreements to CRESS.

CRESS adds to the existing green energy initiatives such as the net energy metering (NEM), self-consumption (Selco) programme, Malaysia Green Attribute Trading System (mGATS), and the Green Electricity Tariff (GET). Other notable programmes include the Corporate Green Power Programme (CGPP) and the Large Scale Solar (LSS) Programme.

The CGPP allows the development of new renewable energy plants based on demand without third-party grid access. The LSS Programme is Malaysia's fifth and largest large-scale solar programme, with a 2,000MW capacity. The bidding process closed last week, with winners expected to be announced before the year-end.

The Energy Commission will provide further explanations for the procedures and guidelines for industry players that may benefit our members. 

If you're a member, you can join our Energy Committee and Sustainability Network and be an advocate for change. Contact Yoong@bmcc.org.my for more information.

The bank is proud to mark the milestone with PETRONAS in opening Islamic Sustainable Accounts for its subsidiaries engaged in sustainable activities.

This solution demonstrates the bank’s strong commitment to supporting the United Nations’ Sustainable Development Goals (UN SDGs) by being the first bank to offer a sustainable current account savings account in Malaysia.

Read the full article here.

PwC draws on their experience in reviewing and assuring sustainability reports to identify where gaps in sustainability reporting may lie, before diving deeper into the issues behind these challenges.

As sustainability and climate targets gain importance, there is a growing call for trust and assurance over these non-financial data. 

As of May 2024, their analysis indicates that 38% of the Top 100 listed companies on Bursa Malaysia have subjected their recent sustainability reports or statements to independent assurance, a significant increase from 21% in the previous year.

With regulation over this information continuously increasing, this publication they have created aims to highlight common pitfalls in sustainability reporting and provide some insights on how to mitigate these gaps for better reporting. 

Click here to improve your sustainability reporting.

Jeffrey Cheah Foundation and the UN Sustainable Development Solutions Network launched a teacher professional development programme to advance Education for Sustainable Development (ESD) at the “ESD for 2030 Regional Meeting on Transforming the Futures of Education” at Sunway University. Supported by the Ministry of Education, this initiative will see the development and delivery of a capacity-building development programme on ESD for teachers in Malaysian national and national-type schools.

Read more here!

The partnership focuses on leveraging shared knowledge, funding, capacity building, and joint initiatives to foster a sustainable and greener future. The initiative aims to raise awareness and promote sustainable practices across Malaysia, aligning closely with the United Nations Sustainable Development Goals (UN-SDGs), particularly Goal 17 – Partnership for the Goals.

Read the full article here. 

In a statement, the waste management and recycling solutions provider said the collaboration, which complements its existing business model, is expected to have a positive impact on its revenue stream.

Read the full article here.