The 12th Malaysia Plan (12MP) has unveiled that Malaysia will pursue a low-carbon, clean and resilient development strategy to achieve sustained socio-economic growth. The country’s development plan which will take place between 2021 to 2025 outlines national strategies and actions towards fulfilling its Paris Agreement goal of reducing Greenhouse Gas (GHG) emissions by 45% by 2030 in relation to the 2005 GDP.
The report describes the key measures to achieve a low-carbon nation status, support the transition to becoming a circular economy, share responsibility in reducing pollution as well as intensify climate change adaptation and risk reduction measures:
- To assist the transition to a low-carbon nation, the collaboration between the federal, state, and local governments, as well as the corporate sector and civil society organizations (CSOs) will be ramped up. The efforts would be concentrated on the major GHG emitting sectors, including energy, transportation, industrial processes and product usage, waste management, agriculture, forestry, and land use.
- Climate-action enabling tools such as carbon pricing, carbon tax and the emission trading scheme will be reviewed and developed.
- The government will encourage the integration of the United Nations Sustainable Development Goals (SDGs) and environmental, social and corporate governance (ESG) principles in governance and decision-making.
- In terms of pollution prevention, planetary health will be incorporated into policies, as well as development planning and execution. In this context, efforts will be focused on prioritizing environmental health and implementing ecologically sound chemical and hazardous substance management.
- In development planning, evidence-based and risk-informed measures, as well as integrated approaches to climate change adaptation and catastrophe risk reduction, will be implemented. The government will enhance early warning systems, as well as catastrophe reaction, preparation, and recovery plans.
- The 12MP has also underscored measures to protect natural capital, promote sustainable use of natural resources and benefit-sharing, enhance environmental governance, scale-up financing, and instill a feeling of shared responsibility.
Local green organizations have commended the 12MP, particularly its emphasis on promoting greater planetary health, a low-carbon economy, and climate resilience. Its use of green funding and financial structures to incentivize governments to conserve forests, biodiversity, and the environment, is laudable.
(Sources: The Edge Markets, New Straits Times, The Star Online)