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Malaysia to attract green funds for transition from coal to renewable energy

Malaysia has been in talks with richer countries for transition from coal-powered energy to renewable sources.

The country is in an attempt to follow the path of its Southeast Asian neighbors Indonesia and Vietnam, who are way ahead in renewable energy production.

According to Nik Nazmi Nik Ahmad, Minister of Natural Resources, Environment and Climate Change, Malaysia is in negotiations with richer countries. It comes at a time when the country largely depends on coal and gas to meet 75% of its energy needs.

Amid such, the government has planned to attract more green funding to reduce carbon emissions and to switch into renewables.

Nik Nazmi stated that the government has been in contact with developed countries, including the US and Japan to reduce greenhouse gas emissions.

“We saw that Indonesia and Vietnam both tapped into the Just Energy Transition Plan. Conversations are ongoing,” the minister told the local media, adding that an energy transition agreement would be reached in near future.

Malaysia plans to ease regulations for solar power installations, particularly for rooftops in factories and homes to promote renewable industry, the minister further said.

Meanwhile, the government is planning to set up an advisory group ahead of COP28 to make some major announcements in the energy sector.


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