.png)
Net zero emissions by 2050
- SOGCE ADMIN
- Jul 4, 2024
- 3 min read
Published on: Wednesday, July 03, 2024
By: Ricardo Unto
Nurhidayah said these initiatives are structured around six Energy Transition (ET) levers – Energy Efficiency (EE), Renewable Energy (RE), Hydrogen, Bioenergy, Green Mobility, and Carbon Capture Utilisation and Storage (CCUS).
KOTA KINABALU: Malaysia has embarked on an ambitious journey to achieve net-zero greenhouse gas (GHG) emissions by 2050, as stated in the Twelfth Malaysia Plan (2021-2025).
Federal Economy Ministry’s Energy Division Principal Assistant Director Nurhidayah Idrus said this vision is further supported by the National Energy Policy 2022-2040 (DTN), which aims to create an equitable and inclusive energy transition for all.
“The Economy Ministry has developed the National Energy Transition Roadmap (NETR) to accelerate these efforts,” she said when presenting a paper at the 11th Sabah Oil, Gas and Energy Conference and Exhibition (SOGCE) at the Sabah International Convention Centre (SICC) here, Thursday.
“This strategic roadmap is crucial for guiding Malaysia’s shift from a fossil fuel-based economy to a high-value green economy.
“The NETR adopts a comprehensive approach involving federal and state governments, industry, the general public, and the international community.
“It outlines 10 flagship catalyst projects and 50 key initiatives to achieve zero GHG emissions by 2050.”
She said these initiatives are structured around six Energy Transition (ET) levers – Energy Efficiency (EE), Renewable Energy (RE), Hydrogen, Bioenergy, Green Mobility, and Carbon Capture Utilisation and Storage (CCUS).
“Over the next three decades, the Responsible Transition 2050 Pathway will guide Malaysia in meeting growing energy demands, identifying investment opportunities, improving socioeconomic indicators, and reducing GHG emissions.
“Projections indicate that the share of renewable energy in Malaysia’s Total Primary Energy Supply (TPES) will increase from 4 per cent to 22 per cent by 2050, while the reliance on fossil fuels will decrease from 96 per cent to 77 per cent.
“Additionally, TPES from natural gas is expected to rise to 56 per cent as coal power plants are phased out.
“The Responsible Transition Pathway is anticipated to generate investment opportunities worth between RM1.2 trillion and RM1.3 trillion by 2050.
“These investments are expected to contribute an additional RM220 billion to the GDP and create approximately 310,000 green growth job opportunities by 2050.
“Medium- and low-income households are projected to benefit the most from these economic gains,” she said.
She said that even without the implementation of carbon capture in the energy sector, Malaysia is set to achieve a 32 per cent reduction in energy sector GHG emissions compared to the 2019 baseline, reducing per capita emissions from 7.9 metric tons of carbon dioxide equivalent (MtCO2eq) to 4.3 MtCO2eq.
“The transition to a green industry promises immense benefits for the people, businesses, and the government.
“It is expected to enhance the overall quality of life beyond economic opportunities, job creation, and reduced emissions.”
She said that Energy Efficiency (EE) is highlighted as the most cost-effective and resource-optimizing strategy among the six ET levers.
“Renewable Energy (RE) offers diversification from fossil fuels through sustainable sources.
“The focus on hydrogen underscores its potential as a clean energy carrier, especially for transportation.
“Bioenergy leverages Malaysia’s abundant agricultural biomass resources, providing economic and environmental advantages.
“Green Mobility addresses emissions from the transportation sector, promoting cleaner urban transportation.
“Lastly, CCUS targets hard-to-abate industrial emissions, with the potential to repurpose existing petroleum facilities,” she said.
She said the NETR also identifies five vital cross-cutting enablers and twelve initiatives aligning with those in the DTN.
“The primary objective is to meet energy transition targets while ensuring fiscal sustainability.
“Governance and planning in the energy sector involve complex, multi-faceted decision-making across various sectors, including transport, industrial, residential, and commercial.
“Cross-sector collaboration with stakeholders is essential for energy supply planning, encompassing multiple energy sources such as oil, natural gas, coal, and RE.”
She said the National Energy Council (MTN) has been proposed to steer and guide strategic decisions in the energy sector.
Chaired by the Prime Minister, the Council will include representatives from all ministries and agencies related to the energy sector.
“Navigating the challenges and setting the right pace for Malaysia’s energy transition will require collective and coordinated efforts and close collaboration between the government and industry players,” she said.
Comments