BMCC Newsletter Issue #389 - Green Edition #30 (29 January 2024)
Dear Subscriber, |
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Malaysia among Global Leaders in Network for Clean Energy Investment Forum Strengthens Sustainable Efforts in Emerging Nations |
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Malaysian CEOs and Government ministers were among the more than 20 individuals to join the World Economic Forum alliance and comprise The Network to Mobilise Clean Energy Investment for the Global South. On 17 January in Davos, Switzerland, the launch of the new alliance was announced to provide a platform for developing economies to raise awareness about their clean energy needs, share best practices, and sustainably accelerate their energy transitions.
The network aims to provide a collaborative space for its members to accelerate clean energy capital solutions in emerging market contexts - through innovative policies, new business models, de-risking tools and finance mechanisms - and exchange best practices for attracting sustainable flows of clean energy capital.
At the Forum, the Building Trust through an Equitable and Inclusive Energy Transition report was released. It outlines a framework to guide policy-makers and business leaders from the energy sector towards a just, equitable and inclusive energy transition that keeps developing economies in mind. These economies account for less than one-fifth of global clean energy investments.
As well as galvanising efforts around energy transition, the network highlights the growing significance and untapped potential of emerging nations to the global economy. Seizing these opportunities presents a dual opportunity, as they have the potential to help mitigate risks in emerging markets, while also facilitating sustainable growth and positive societal impacts.
As an emerging nation committed to becoming carbon neutral by 2050, Malaysia aspires to utilise its abundant energy sources such as solar, hydropower, and hydrocarbons to meet the network's goals of net zero carbon emission.
Efforts are underway in Malaysia!
To start, the Malaysian Ministry of Energy Transition and Public Utilities reported that the Green Electricity Tariff Programme, which supplies subscribers with renewable energy from solar and hydropower plants, will be undergoing a review to improve implementations and operations late last year.
These goals of the Malaysian government are in direct alignment with the BMCC's goals to help our members' businesses cultivate sustainable practices that help to preserve the environment.
If you are a BMCC member interested in joining the conversation to fight for our planet, please contact Yoong@bmcc.org.my to join our Sustainability Network, where our members share and exchange experiences, voice challenges faced in the areas of Environmental, Social, and Governance (ESG), and identify key areas where we can collectively advocate. |
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| BMCC Excellence Showcase Series : A Site Visit to Weir Minerals and BMCC Sustainability Network Meeting |
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On 18 January, we held our first BMCC Excellence Showcase Series, featuring a site visit to Linatex Weir Minerals’ manufacturing facility.
The BMCC Excellence Showcase Series is dedicated to highlighting the outstanding achievements of our members in their respective aspects of excellence. The Showcase features a captivating series of programmes, unveils best practices, shares experiences, and showcases remarkable stories of BMCC Members successfully advancing towards their overarching objectives.
This visit to Weir Minerals Malaysia's plant in Jalan Ipoh, focused on discovering their sustainable environment journey – an opportunity to highlight their commitment and initiatives towards sustainable principles.
Weir Minerals Malaysia shared how their modern manufacturing facility, equipped with state-of-the-art equipment, produces Linatex rubber products - the world's leading rubber to protect equipment in mining, minerals processing, and industrial applications for the global Weir Minerals network.
During the site tour, we were also informed on how they are tackling climate change by minimising carbon emissions through the use of renewable energy from in-house solar, green electricity tariff, and recycling rubber waste. These efforts are aligned with their objectives to reduce 30% of carbon emissions by 2030. |
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Our First Sustainability Network Meeting of 2024!
The Sustainability Network meeting discussed various activities planned for the year and explored collaborative areas with other BMCC committees and members to advocate for ESG principles. The network meeting was attended by its Chair, Murali Ram, Lead for Cities & Advisory from ARUP; Deputy Chair Sharath Martin from ACCA Asia Pacific; Stephen Frendt, Managing Director and Annbalagan Kumarasamy, Head of Safety & Sustainability, and Nurul Syuhada Yahaya, from Weir Minerals Malaysia.
Also in attendance were Mohd Hafiz Zainuddin from Knight Frank Malaysia; Scott Selkirk from Mott MacDonald (M) Sdn. Bhd.; Dr Yasmin Rasyid from Sime Darby Property; Geoff Allen from Trowers & Hamlin; Prof. Matthew Ashfold from the University of Nottingham Malaysia; Suey Ong from BSI Service Malaysia; Esther Yap from Mazars; and Arina Kok from EY.
The BMCC was represented by Government Relations and Public Affairs Manager, Hau Wei Yoong, and Government Relations and Public Affairs Officer, Asyraf Shahar.
A big thank you to Weir Minerals Malaysia for having us at the site visit and hosting the Sustainability Network meeting.
If you are a BMCC member interested in joining the Sustainability conversation, please contact Yoong@bmcc.org.my. |
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| Our First DEI Network Meeting of 2024! |
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On 23 January, our DEI Network members convened at Menara YTL for our first DEI Network Meeting of the year. The topics of discussion revolved around plans for events and initiatives for 2024, including campaigns and forums to educate and raise awareness of DEI by sharing members' best practices. Additionally, efforts were made to engage the government for participation and contributions.
We thank our esteemed member, YTL, for hosting the meeting at their office. The meeting was attended by Natasha Zulkifli, Chair of BMCC DEI Network and Director of YTL Construction; Sharath Martin, Deputy Chair of BMCC DEI Network and Senior Policy Manager - Asia Pacific of ACCA; Dr Sheena Kaur of Universiti Malaya; Janike Ratnapola from bp; S Rathika Shreetharan from Weir Minerals; and Nina Farizah from YTL Construction.
The BMCC was represented by our CEO, Jennifer Lopez, Government Relations and Public Affairs Manager, Yoong Hau Wei; and Membership Engagement and Partnership Manager, Louis Denis.
If you are a BMCC member interested in being part of the DEI conversation, please contact Louis@bmcc.org.my. |
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| British High Commission Kuala Lumpur | UK Carbon Border Adjustment |
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The UK will implement a Carbon Border Adjustment Mechanism (CBAM) by 2027. This will place a carbon price on imported goods from the aluminium, cement, ceramics, fertiliser, glass, hydrogen, iron and steel sectors, to support decarbonisation efforts and investments, and reduce the risks from carbon leakage. This decision follows a consultation that took place last year. |
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Further consultations on the delivery of the UK CBAM will be carried out this year. The UK Government will also be working with industry to establish voluntary product standards for low-carbon products, and to develop an embodied emissions reporting framework.
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| British High Commission Kuala Lumpur | UK Carbon Capture, Utilisation and Storage Vision |
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The UK’s new plan for carbon capture, utilisation and storage (CCUS) was launched in December 2023. It sets out a Vision document for the CCUS sector to drive economic growth, build new supply chains and skilled jobs, and support decarbonisation towards net zero. It aims to cement the UK as a global leader in developing a thriving, competitive market in CCUS, moving from market creation (backed by £20bn for early deployment) to market transition by 2035. The UK has also launched the process for more companies to connect to and expand the HyNet CCUS cluster, and outlined 2024 plans for other clusters and to develop the frameworks for the CCUS market, including transport. |
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| British High Commission Kuala Lumpur | UK Green Hydrogen Projects Unveiled |
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To support the UK’s hydrogen economy ambitions, the UK Government announced a list of 11 new green hydrogen projects. These will deliver 125MW of green hydrogen production capacity, and receive revenue support of £2bn over 15 years.
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| British High Commission | DNB My5G Portal Experience Centre Now Open at TRX 106 |
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Dear Members, You’ve been reading and hearing a lot about 5G but have you wondered what it can do to improve our lives? The DNB My5G Portal Experience centre in TRX 106 is now open, providing an interactive and immersive environment to learn about, experience, and understand the impact of 5G technology on enterprises and consumers. With the British High Commission, Ericsson and DNB are thrilled to invite you for a visit so don't miss the opportunity to learn more about 5G and how it will be a part of our future, both in our professional and personal lives! The event is free of charge with limited slots, so please sign up soon! Date: Thursday, 8 February at TRX Exchange 106 Time: 10.00 a.m. – 11.30 a.m.
To read more, click here! |
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| Foreign, Commonwealth & Development Office | Mitigation Action Facility |
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The Mitigation Action Facility is open to all. No accreditation is required for applicants, and 100% of funding is grant-based. Submissions close on 29 February 2024. |
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| BSI Malaysia | From Farm to Fork Luncheon and Other Updates |
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Complimentary Seminar and luncheon: Date: 31 January 2024 (Wednesday) Time: 9am to 1pm (MY time) Venue: BSI's office, Level 29, The Gardens North Tower, Mid Valley City, Kuala Lumpur. Unable to join the onsite Seminar? You may also join online here!
On behalf of BSI Malaysia, we would also like to share some exciting updates and research that they have done. |
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| Marlborough College Malaysia | Admissions Event on 30 Jan at Four Seasons KL |
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Discover a world-renowned education with Marlborough College Malaysia at this exciting Admissions Event!
Event: Kuala Lumpur Admissions Date: Tuesday, 30 January 2024 Time: 12:00 noon Venue: Four Season Hotel, Kuala Lumpur |
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| Marlborough College Malaysia | 24 Feb Admissions Open Morning |
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Visit Marlborough College Malaysia for their Open Day on Saturday 24 February 2024 and discover a world-renowned education at a global top 125 school with award-winning academic results, boarding, and pastoral care. Take a tour of the expansive 90-acre campus that includes a lake and organic farm. |
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| University of Nottingham Malaysia | Nott Expert Talks on Energy Transition |
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University of Nottingham Malaysia's upcoming Notts Expert Talk is especially for the engineering and sustainability community!
Catch Professor Ir Dr Mohd Shahir Liew as he discusses the global challenges of energy transition, challenging preconceptions and hopefully inspiring the next generation of sustainable leaders.
Date: 2 February 2024 (Saturday) Time: 11 am - 12 pm Venue: Future Students Centre, Menara Axis, Petaling Jaya
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| EnviroSolutions & Consulting | Strategic Restructuring to Accelerate Growth |
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This week, ESC launched its five-year strategic restructuring and expansion plan, “ESC 2.0”. In 2023, ESC celebrated its 20th anniversary and as the company now enters its third decade, ESC 2.0 will enhance its current business framework and introduce new systems and procedures for improved operational efficiency, service delivery and growth.
As part of this initiative, several leadership adjustments and reorganisation of business segments have been implemented, effective immediately.
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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) No 02-B, Menara IQ, Lot C7.11, Persiaran TRX, Tun Razak Exchange, 55188 Kuala Lumpur Copyright © BMCC 2024 |
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