Sustainable development, green technology to play vital role in driving economy, says PM

Tan Sri Muhyiddin Yassin delivers his speech during International Conference and Exhibition of Malaysian Green Technology and Eco Products (IGEM) 2020.- Bernama

PETALING JAYA: Sustainable development and green technology need to play a vital role in driving the country's economy, says Tan Sri Muhyiddin Yassin.

The Prime Minister said that the Covid-19 pandemic has been a wake-up call for the world and that Malaysia and other countries need to rethink their development agenda.

“A green recovery approach would not only spur the economy and social well-being but will also drive the nation’s development trajectory on a low carbon and climate resilience pathway, ” he said on Monday (Oct 19).

He was speaking during the launch of 11th edition of International Greentech & Eco Products Exhibition & Conference Malaysia (IGEM), the very first virtual edition of the event.

“Malaysia, as a country blessed with rich natural resources, being one of the 12 mega-biodiverse countries in the world, and with a head-start in green technology, should leverage on this for a stronger green recovery agenda.

“In our Budget 2021, there will be a special focus on the sustainability agenda and we will make a very important announcement in this regard, ” he added.

He said that lockdowns across the world made people reflect and think that there was a need to change our ways.

“We need to rethink our relationship with the planet and we need to build back better. Due to all of us being at home, we also noticed we had better air quality and mother earth had time to reinvigorate.

“But this was short-lived as we went back to our old ways once the lockdowns were lifted. But the lesson is, there is a promising path of green recovery as we wade through this pandemic, ” he said.

Muhyiddin said that the Environment and Water Ministry was currently spearheading the Environmental Sustainability Roadmap in Malaysia towards sustainable development.

“The document has clear targets and indicators towards a green and sustainable pathway from 2020 to 2030, ” he said.

He added that the Green Technology Master Plan (GTMP) strategically outlines approaches up to the year 2030 for green technology development to create a low carbon and resource-efficient economy.

Muhyiddin said that Malaysia was also taking steps to move towards a circular economy and also galvanised several cities in Malaysia to set a low-carbon vision and develop a low-carbon action plan.

He also said that the country is striving to ensure that country’s water resources will be managed sustainably, with a national KPI of 99% water supply coverage, 80% connected sewerage services and the national target of 25% in reducing non-revenue water by 2030.

Muhyiddin also said that Bank Negara is finalising a “Climate Change and Principles-based Taxonomy” to help align understanding and assessments of risk by providing a common language to categorise economic activities based on their impacts on climate change.

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