14th Green Edition Newsletter #300 - 25 April 2022
Dear Subscriber, |
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BMCC Energy Outlook 2022: Malaysia's Energy Transition Outlook |
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Two weeks ago, the BMCC organised an insightful forum that brought major players and like-minded attendees together to exchange views on the energy transition trajectory of the oil, gas and energy sector in Malaysia. The forum, attended by nearly 200 guests is an annual flagship event of the BMCC Energy Committee.
The Energy Committee is currently represented by 18 BMCC members and in line with the global shift towards energy transition, the members are committed to support the Government's agenda in its aspirations to be a carbon neutral nation earliest by 2050. With that in mind, the Energy Outlook 2022 Virtual Forum was organised where senior representatives from the industry as well as the government agencies shared their views on Malaysia's Energy Transition Outlook.
PETRONAS and Sarawak Energy Berhad shared about their organisation's aspirations towards net zero carbon and the plans in order to achieve them. Meanwhile, the Sustainable Energy Development Authority (SEDA) also shared about their recently released Malaysian Renewable Energy Roadmap (MyRER) which outlines the government's strategic plans to achieve their renewable energy targets for the nation. NanoMalaysia, another agency of the Government also shared their roles in developing the hydrogen technology and economy roadmap and implementing initiatives to promote electric vehicles here in Malaysia.
The chamber is pleased to play an active role to advocate for actions to combat climate change in the private sector, especially for Malaysian organisations, through platforms such as this. In March, the Chamber took another progressive step toward a formal partnership with like-minded organisations like UNGC and BSI Malaysia, where the BMCC will work with partners to provide the support to help organisations to implement programmes to achieve their climate action goals. We continue to welcome partners who are interested in advocating for climate action to join us to further this cause.
This BMCC’s commitment to climate action is also reflected in the BMCC Energy Committee. The Energy Committee set one of its current priorities is to support Malaysia’s energy transition agenda and journey to a net-zero economy through collaborations in strategic areas. The initiatives will be driven through a working group dedicated to focusing on energy transition programmes and initiatives. |
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The Oil & Gas and Energy sector has been and remains a major influencer in the global economy despite the global shift to achieving net zero carbon emission targets set by governments and corporations. The Oil & Gas and Energy sector recognises its role as a CO2 emitter and the impact this has on Climate Change and has embarked on a transition journey to a more sustainable and lower carbon economy - in line with global aspirations and commitments to ensure that the impacts from climate change can be mitigated.
Oil and gas producers have been intensifying efforts for greener and sustainable energy sources to reduce dependency on fossil fuels, and many have started talking about their aspirations to be net zero carbon - including Malaysia’s largest producer, PETRONAS. The Government has also recently released the Malaysia’s Renewable Energy Roadmap to outline the Government’s strategy to achieve its renewable energy targets - as part of the collective effort to meet its Nationally Determined Contribution (NDC) in achieving a 45% carbon intensity reduction by 2030.
Thank you to our esteem speakers for an insightful session that gave a good glimpse of how the country will transition to achieve the aspirations to be a carbon neutral country earliest by 2050.
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| British Chambers of Commerce | Global Annual Conference 2022 |
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Global Annual Conference will be an opportunity for business leaders from the UK and around the world to come together and look to a more sustainable and responsible future.
Through thought-provoking discussions, talks and peer-to-peer sessions, delegates will be able to explore and debate how we can individually and collectively rise to the challenges ahead, with a particular focus on:
- People - Developing talent now and for the future
- Planet - Boosting a green global economy
- Progress - Seizing new opportunities
Away from the sessions there also will be networking time for delegates to greet existing contacts and meet new ones; and we will also be showcasing our dynamic network of Chambers and strategic partners.
Date: Thursday, 30 June 2022 |
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| MIDA | Circular Economy: Where Are We Now and How do We Even Begin? |
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Malaysia is one of the top producers of fossil fuel plastic product, with the sales turnover of RM48.46 billion and RM13.3 billion export in the year 2020 (Malaysian Plastics Manufacturers Association Annual Report 2020).
The recycling rate in Malaysia was at 28.1% in 2019 and was predicted to achieve 40% in 2025. However, not all plastic products can be recycled. Some of it is disregarded by the waste collectors because of various factors such as hazardous or economic reasons. The Malaysian Government and NGOs have launched several awareness campaigns and have established the ‘Malaysia’s Roadmap Towards Zero-Single Use Plastics 2018 2030’.
Roadmap is envisaged to deploy actions that can deflect the current trajectory to a more sustainable pathway thus establishing a more circular, cleaner and healthier environment by 2030. |
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| HSBC | Earth Day: Greener Future |
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This Earth Day, HSBC are taking inspiration from the year-round initiatives, aimed to help build a healthier planet, by restoring nature, activating a sustainable future and educating.
Across Asia Pacific, colleagues have come together and volunteered in building a greener future: from cleaning beaches in Hong Kong and Shanghai, to restoring peatland biodiversity in Malaysia, to challenging our employees to reduce plastic waste at home in India and volunteering at nurseries that facilitate forest restoration efforts in Singapore. |
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| Malaysia Airlines Berhad | Malaysian Airlines’ takes off with SAF |
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Malaysia Airlines has operated its first flight using sustainable aviation fuel (SAF) in partnership with PETRONAS and Neste. The flight marks the airline’s commitment to making SAF the cleaner and more viable energy option for regular flights by 2025.
The Airbus 330-200 aircraft departed Amsterdam Airport Schiphol using a blend mixture of approximately 38% SAF made from used cooking oil, and conventional jet fuel, before arriving in Kuala Lumpur International Airport, Malaysia.
This successful operation was a result of the supply deal between PETCO Trading, which is PETRONAS’ marketing and trading arm in Europe, and Neste, a leading producer of renewable diesel and SAF refined from waste and residues. |
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| YTL Corporation Berhad | YTL Green Data Center Park launches in Johor, the First Integrated Data Center Park Powered by Renewable Solar Energy in Malaysia |
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The YTL Green Data Center Park will offer diversity in power and connectivity on a large industrial site in the state, of which 275 acres will be dedicated to green data center development. Upon completion, this solar-powered data center park will achieve a total capacity of 500MW. The first phase of 72MW is currently under construction and is expected to provide services by Q1 2024. |
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On Earth Day, climate activists rally against fossil fuels - The Edge |
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The ‘gold rush’ to sustainability investments - The Star |
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Climate change: COP26 promises will hold warming under 2C - BBC News |
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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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