KUALA LUMPUR (Sept 14): Malaysia would require cumulative investments of RM350 billion to RM400 billion in its effort to become a nation with zero-greenhouse gas emissions by 2050.
Most of the investment would go mainly to the energy sector, which will account for 0.8% of gross domestic product per annum by 2050, Bursa Malaysia chairman Tan Sri Abdul Wahid Omar said while speaking at the Invest Malaysia: Pivoting for the Future conference on Wednesday (Sept 14).
“From this perspective, the financial and capital markets have an important role to play,” he said.
He cited Prime Minister Datuk Seri Ismail Sabri Yaakob's announcement last September that Malaysia is committed to be a net-zero greenhouse gas emissions nation as early as 2050.
Steps taken to achieve this goal include continued investment in public transportation, tax incentives to promote electric vehicles, and the commitment to phasing out coal.
“This commitment is further reinforced by the Malaysia Renewable Energy Roadmap 2022-2035, developed by the Ministry of Energy and Natural Resources,” Abdul Wahid said.