KUALA LUMPUR, June 25 — Malaysia and the United Nations Development Programme (UNDP) are jointly developing a green economy module framework that is based on the country’s needs, said Deputy Economy Minister Datuk Hanifah Hajar Taib.
The module aims to identify the current economic baseline by taking into account climate factors when analysing climate change risks and the policies that can be used at micro-economic planning levels.
"The goal is for the country's socio-economic development to be simultaneously comprehensive and sustainable.
"There will be more attention given to the element of measurement of green economic performance," she said at the Parliamentary special chamber session today.
Hence, all stakeholders have a joint responsibility to ensure that Malaysia achieves its net-zero carbon emissions aspiration by 2050.
She added that efforts based on green initiatives have been implemented since the 10th Malaysia Plan (10MP) and will continue until the 12MP.
Therefore, the Finance Ministry plays a significant role in disseminating resources and initiatives and facilitating the industrial sector's efforts towards this end.
Among the funding sources and initiatives developed are the RM2 billion National Energy Transition Facility Fund and a RM200 billion fund by financial institutions to encourage industries to shift towards a low-carbon economy.
— Bernama
