Enhancing Malaysia’s renewable energy sector

March 2, 2023

Dateline 2022-12-XX, The Star:

WITH a growing global commitment towards net-zero emissions of global warming gases and increasing awareness of sustainable finance, Bursa Malaysia recently launched Malaysia’s first voluntary carbon market, the Bursa Carbon Exchange.

While leveraging the private sector’s growing ESG (environment, social, governance) commitments is a great start, more can be done to mobilise private finances in a net-zero transition – particularly in the energy sector, which underpins virtually all economic activities in the country.

The Renewable Energy Certificate (REC) market allows energy users to pay a premium per kWh (kilowatt-hour) of electricity produced through low carbon sources; this is a great mechanism to realise greater private finances in accelerating the deployment of renewables.