Phase 2 of Malaysia’s National Energy Transition Roadmap (NETR) was launched by the Prime Minister, YAB Dato’ Seri Anwar bin Ibrahim and Minister of Economy, YB Mohd Rafizi bin Ramli, on 29 August 2023 at the Energy Transition Conference 2023 organised by Tenaga Nasional Berhad.
Our Associates from the Environmental, Social & Governance (ESG) team, Ilyssa Jace and Priscilla Lim, had the privilege of attending the Conference and witnessing the launch of NETR Phase 2 at the Conference.
NETR Phase 2 focuses on establishing the energy mix, greenhouse gas emissions reduction pathway, selected targets and initiatives, as well as strengthening targeted investments, people strategies and international cooperation planning, and policy and regulatory frameworks. The roadmap reinforces our nation’s commitment to the process of decarbonisation, while championing sustainable green growth.
Notably, the launch of Phase 2 completes the NETR, subsequent to the introduction and launch of Phase 1 on 27 July 2023. Phase 1 outlined 10 flagship catalyst projects of the NETR, covering six energy transition levers (energy efficiency (EE), renewable energy (RE), hydrogen, bioenergy, green mobility, and carbon capture, utilisation and storage (CCUS)). The complete NETR document can be accessed on the Ministry of Economy's website via this link: https://ekonomi.gov.my/sites/default/files/2023-08/National%20Energy%20Transition%20Roadmap.pdf
We congratulate Tenaga Nasional Berhad for the success of the Energy Transition Conference 2023. The event provided us with invaluable insights on the future of energy transition from various countries and industries delivered by the esteemed speakers invited.
We look forward to the development of the law to facilitate the efforts towards energy transition, thereby propelling our nation towards fulfilment of its commitments and goals for a more sustainable future. Amongst others, the Energy Efficiency and Conservation Act is expected to be tabled during the upcoming Parliamentary sitting, according to the Minister of Natural Resources, Environment and Climate Change, YB Nik Nazmi bin Nik Ahmad.
Stay tuned for our summary and insights on the NETR, as well as updates on further developments concerning the legal and regulatory facets of energy transition.