Making climate mitigation more effective

The central bank says the country’s climate policies remained fragmented and not sufficiently ambitious.

PETALING JAYA: The economy faces several key challenges in transitioning towards a decarbonised future, and measures such as regulation, price reform, leadership and governance, investment, awareness and capacity building need to be taken to make climate mitigation more effective, says Bank Negara.

In a boxed article accompanying its annual report for 2022, the central bank said the country has a high dependence on coal for power generation, with 43.6% of electricity generated in 2021.