KUCHING: The Madani Economy framework and National Energy Transition Roadmap (NETR) will help determine Malaysia's direction towards a better future, says Sarawak Premier Tan Sri Abang Johari Tun Openg (pic).
He said Malaysia needs to be more competitive and investor-friendly, particularly in the context of environmental, social and governance (ESG) compliance.
"The nation's challenge is to change its energy source from coal to renewable energy, as financial institutions around the world are now emphasising ESG.
"If your energy is polluting, banks will be reluctant to fund your projects," he told reporters after launching the 35th Kuching City Day celebration at the Waterfront here on Tuesday (Aug 1).
Abang Johari said the Federal Government was now moving towards renewable energy with the NETR.
He added that the Madani Economy announced last week by Prime Minister Datuk Seri Anwar Ibrahim has a similar approach to Sarawak's post-Covid-19 development strategy (PCDS).
"We have no problem because the Madani Economy and PCDS are consistent with each other," he said, adding that he had an informal discussion with Anwar about this a while ago.
Launched in 2021, PCDS aims to transform Sarawak into a high-income, developed state by 2030 based on three main pillars of economic prosperity, social inclusivity and environmental sustainability.
The Madani Economy initiative, meanwhile, aims to boost Malaysia's competitiveness and investment attractions while addressing issues affecting the people's lives.
Its two main focuses are restructuring the economy to make Malaysia a leading Asian economy and improving the quality of life for Malaysians.
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