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ASEAN Poised To Lead Global South In Low-carbon, Sustainable Growth -- Tengku Zafrul
BUSINESS
SUBANG JAYA, Aug 16 (Bernama) -- ASEAN can set the benchmark for sustainable growth in the Global South if policies, businesses, and people are aligned towards a low-carbon future, said the Minister of Investment, Trade and Industry Tengku Datuk Seri Zafrul Abdul Aziz.
He said that as ASEAN is projected to become the world's fourth-largest economy by 2030, it is important for the region to be more proactive in climate leadership, given its vulnerability to climate risks due to its lengthy 173,000-kilometre coastline.
'Under our ASEAN Chairmanship, Malaysia is pushing for initiatives that make sustainability a collective and financially viable goal,' he said.
Tengku Zafrul said this in his keynote address at the Economic and Leadership Forum (ELF) here today.
"Our vision is to transform ASEAN into a global hub for green investment and technology.
'This is why we are championing Priority Economic Deliverables, covering important objectives such as sustainable investments, green financing and capital, an ASEAN Electric Vehicles roadmap, green transition for micro, small and medium enterprises, and positioning ASEAN as a sustainable minerals investment destination," he said.
He also expressed hope that these deliverables would be translated into domestic policies that reduce risk for investors, accelerate technology adoption, and ensure that sustainability generates viable returns.
"If we can move first – if Malaysia and ASEAN can make the green transition ahead of our global competitors – we can secure leadership and attract capital in sustainable investments, manufacturing and trade.
"We can build not just products but also the 'people-planet-profit' trust and credibility," he explained.
