In an effort to develop their respective clean growth sectors as a critical response to the urgent global challenge of climate change, the United Kingdom and Malaysia have jointly collaborated on the launch of a Clean Growth Handbook to promote clean growth opportunities in Malaysia, while providing insights and recommendations for collaboration between Malaysian and UK organisations to tackle climate change and accelerate sustainable economic growth.
This strategic alliance aims to drive innovation and investment in the energy and manufacturing sectors, as well as promoting green finance and sustainable infrastructure development.
The launch was jointly officiated by the British High Commissioner to Malaysia, H.E. Charles Hay and YB Rafizi Ramli, Minister of Economy Malaysia. The Minister expressed his gratitude for the collaboration between the UK and Malaysia in the clean growth sector, noting how the UK is "a shining example for Malaysia to emulate in this sector."
According to the Minister, Malaysia’s aspiration is to be a net zero country by 2050, the same year the Malaysian economy is expected to triple in size, with Malaysia also having pledged to reduce its carbon intensity by 45% by 2030.
The newly launched handbook, commissioned by the British High Commission Kuala Lumpur, identifies collaboration opportunities with UK companies that can provide valuable expertise and insights for Malaysian organisations. It also evaluates the UK's clean growth journey and ecosystem, highlighting areas where the UK's expertise can complement Malaysia's efforts to advance the agenda.
The Handbook focuses on four priority sectors - power, transport, buildings, and manufacturing - that have the potential to influence large scale change on the economy and environment due to their higher greenhouse gas emissions and gross added value contributions.
Within each sector, the Handbook provides market overviews and growth opportunities in key subsectors. This is complemented by collaboration opportunities with UK companies that have built up considerable expertise and lessons learned that Malaysian organisations can draw on.
"By presenting unique opportunities for investors looking to enter the clean growth market in Malaysia, the report's recommendations can help Malaysia achieve its net zero goals, making it an attractive investment destination for those looking to invest in sustainable economic growth," said Jennifer Lopez, Chief Executive Officer of the British Malaysian Chamber of Commerce. "By working together, the UK and Malaysia can drive innovation and develop new solutions to build a cleaner, greener future for both countries and the world.”
Recent fruitful collaborations include the UK-Malaysia Partnering for Accelerated Climate Transitions Programme, Low Carbon Energy and Future Cities Programmes, the launch of the centralised sustainability platform by Bursa Malaysia and the London Stock Exchange, and the exploration of carbon capture, and storage clusters in Malaysia by PETRONAS and Storegga.
The Handbook is co-produced by Arup, a global sustainable development consultancy, as a useful starting point for Malaysia’s private and public sectors, key players in the clean growth sector and new entrants to the clean growth market in Malaysia to inspire and highlight the possible pathways that they can take in their clean growth journey.
“Clean growth unlocks new avenues of economic growth for Malaysia, while accelerating the reduction of greenhouse gas emissions," commented Murali Ram, Cities & Advisory Malaysia Leader of Arup. "The collaborations demonstrated in this Handbook bring to life the priorities outlined in the Twelfth Malaysia Plan that will improve energy affordability and security, and foster the creation of new industries and homegrown innovation.”