Latest news with #NationalClimateChangeBill
New Straits Times
29-05-2025
- Business
- New Straits Times
National Climate Change Bill to be tabled in August
GEORGE TOWN: The Natural Resources and Environmental Sustainability Ministry (NRES) will table the National Climate Change Bill in August, said its secretary-general Datuk Dr Ching Thoo. He said the bill has been completed and is being reviewed by the Attorney-General's Chambers. "The review process is being conducted after the NRES completed engagement sessions with state governments, as the implementation of the proposed law involves their jurisdictions. "We plan to table it in parliament during the next session in August. "It was previously postponed to June, but we needed time to fine-tune the bill," he told reporters after the launch of the Environmental Sustainability Road Tour 2.0 at Universiti Sains Malaysia (USM) yesterday. Regarding the use of renewable energy (RE) in the country, Ching Thoo stated that Malaysia is on a positive trajectory towards achieving its 70 per cent RE capacity target, in line with the goals outlined in the National Energy Transition Roadmap (NETR). "If we look at the current breakdown, it is largely dominated by solar panels, which I believe account for nearly 95 per cent. "According to the Energy Transition and Water Transformation Ministry's data, we have reached approximately 40 per cent," he added. – Bernama
The Sun
29-05-2025
- Politics
- The Sun
NRES to table National Climate Change bill in August
GEORGE TOWN: The Natural Resources and Environmental Sustainability Ministry (NRES) will table the National Climate Change Bill in August, said its secretary-general Datuk Dr Ching Thoo. He said the bill has been completed and is being reviewed by the Attorney-General's Chambers. 'The review process is being conducted after the NRES completed engagement sessions with state governments, as the implementation of the proposed law involves their jurisdictions. 'We plan to table it in Parliament during the next session in August. It was previously postponed to June, but we needed time to fine-tune the bill,' he told reporters after today's launch of the Environmental Sustainability Road Tour 2.0 at Universiti Sains Malaysia (USM) here. In January, Natural Resources and Environmental Sustainability Minister Nik Nazmi Nik Ahmad stated that the ministry was finalising the bill with input from various stakeholders to ensure its comprehensiveness and relevance. Regarding the use of renewable energy (RE) in the country, Ching Thoo stated that Malaysia is on a positive trajectory towards achieving its 70 per cent RE capacity target, in line with the goals outlined in the National Energy Transition Roadmap (NETR). 'If we look at the current breakdown, it is largely dominated by solar panels, which I believe account for nearly 95 per cent. According to PETRA (Ministry of Energy Transition and Water Transformation) data, we have reached approximately 40 per cent,' he added.
Malaysiakini
29-05-2025
- Politics
- Malaysiakini
Environment Ministry to table Climate Change Bill in August
The Natural Resources and Environmental Sustainability Ministry (NRES) will table the National Climate Change Bill in August, said its secretary-general Ching Thoo. He said the bill has been completed and is being reviewed by the Attorney-General's Chambers. 'The review process is...
The Star
29-05-2025
- Business
- The Star
Ministry to table National Climate Change Bill in August
GEORGE TOWN: The Natural Resources and Environmental Sustainability Ministry will table the National Climate Change Bill in August, says its secretary-general, Datuk Dr Ching Thoo. He said the bill has been completed and was being reviewed by the Attorney-General's Chambers. "The review process is being conducted after the ministry completed engagement sessions with state governments, as the implementation of the proposed law involves their jurisdictions. "We plan to table it in Parliament during the next session in August. It was previously postponed to June, but we needed time to fine-tune the bill," he told reporters after Thursday's (May 29) launch of the Environmental Sustainability Road Tour 2.0 at Universiti Sains Malaysia (USM) here. In January, Natural Resources and Environmental Sustainability Minister Nik Nazmi Nik Ahmad stated that the ministry was finalising the bill with input from various stakeholders to ensure its comprehensiveness and relevance. Regarding the use of renewable energy (RE) in the country, Ching Thoo stated that Malaysia was on a positive trajectory towards achieving its 70% RE capacity target, in line with the goals outlined in the National Energy Transition Roadmap (NETR). "If we look at the current breakdown, it is largely dominated by solar panels, which I believe account for nearly 95%. According to the Energy Transition and Water Transformation Ministry data, we have reached approximately 40%," he added. – Bernama
The Star
13-05-2025
- Business
- The Star
The ESG awakening: why Malaysian SMEs are rushing to catch up
In recent years, the global urgency to combat climate change and environmental degradation has spurred regulators around the world to tighten climate-related policies. Malaysia is no exception. The impending National Climate Change Bill—a comprehensive framework for national climate action—will serve as a cornerstone in aligning the country's ambitions with its net-zero goal by 2050. This legislation is expected to significantly reshape the local business landscape, particularly for small and medium enterprises (SMEs). Recognising the vital role of SMEs in this transition, Alliance Bank Malaysia Berhad (Alliance Bank, or the bank) conducted a survey to understand their awareness and adoption of sustainability and ESG practices. The insights gathered were compiled into a landmark publication, The Path To Sustainable Impact: Sectoral Insights Of Malaysian SMEs, also known as the ESG 2.0 Report, which was officially launched on Jan 21 this year, in partnership with Monash University Malaysia and Zurich Malaysia. The report is also supported by the United Nations Global Compact Malaysia and Brunei (UNGCMYB), Malaysian Green Technology and Climate Change Corporation (MGTC), SME Corporation Malaysia and INCEIF University. This report highlights the level of awareness, adoption level of SMEs from four main sectors namely manufacturing, construction, service and agriculture as well as the challenges and recommendations dedicated to each sector. The ESG 2.0 Report: A promising shift The report reveals an encouraging rise in sustainability awareness among Malaysian SMEs—80% compared to 14% since the bank's inaugural report – ESG Insights From Malaysia SMEs Building a Better Future Together or ESG 1.0 launched in 2023. The increase is attributed to the collective efforts of stakeholders—including government bodies, corporates and media—who have worked together to amplify ESG awareness. The report highlights practical resources such as the ESG Quick Guide for MSMEs by SME Corp Malaysia, Capital Markets Malaysia's Simplified ESG Disclosure Guide (SEDG) and MITI's i-ESG Framework that have made ESG concepts more accessible and actionable for SMEs. Besides regulatory compliance, the increase in adoption (from 28% to 60%) also stems from the realisation by businesses that ESG practices can achieve cost savings, efficiency improvements and also improved revenues. ESG adoption also results in new market opportunities, attracting more customers and enhancing resilience in an increasingly complex business landscape. One of the key highlights in the report were the top three challenges when adopting ESG—the overwhelming amount of information and guidelines, the high costs of implementation and resource constraints. Despite the challenges listed, it is important to note that the proportion of SMEs with no intention of adopting ESG has dropped significantly from 41% to 14%. Transforming barriers into business opportunities As SMEs normally operate on tight budgets, small teams and limited resources, there are still challenges that have delayed or hindered their progress towards sustainability. However, the rapid rise in embedding ESG practices into businesses demonstrates that SMEs are committed to adopting ESG through a 'kaizen' approach without incurring significant capital expenditures. By emphasising on small incremental changes and accessing cost-effective tools, training, financing as well as available ecosystems and partnerships, SMEs have started accelerating their ESG journey. It is evident that SMEs are beginning to implement smart, pragmatic steps that reduce waste and cost—while improving ESG performance. For instance, a manufacturing company can retrofit their machineries to calibrate energy usage according to production cycles. This will help the company to reduce energy consumption which leads to immediate savings on the electricity bill. Another example would be the installation of a compactor, by a steel processing SME, to compress lightweight shavings—previously considered unusable waste—into dense, recyclable blocks. It may be a modest investment however the impact was significant—where disposal cost is reduced, and additional income is generated via material resale. The Alliance Bank advantage: A partner in every step The report underscores a strong correlation between ESG adoption and business gains—including cost efficiency, market expansion and long-term resilience. But how can SMEs take the next step? Alliance Bank supports SMEs with a holistic 3A Approach: > Awareness: Through thought leadership initiatives like ESG surveys, sectoral playbooks, barometers, and this very ESG 2.0 Report, the bank fosters a deeper understanding of sustainable business practices. > Advice: Alliance Bank provides expert guidance and tools, including the PROGRESS Climate Diagnostic Tool, co-developed with UNGCMYB. This dynamic tool helps businesses craft their climate reports and sustainability roadmaps which include steps mapped to their current stage of maturity. It also ties directly to Alliance Bank's sustainability-linked funds. > Answers: Beyond guidance, the bank provides tangible support through financing, services, providing linkages and curated ecosystem complete with pre-negotiated discounts. To date, Alliance Bank has helped over 1,000 businesses kick-start or accelerate their ESG journey. Driven by its ambition to become a lifetime ESG-focused bank for SMEs, Alliance Bank is committed to helping businesses not only transition towards sustainable practices but also unlock new growth and future-proof their operations. Its efforts are already making a mark, with over RM14bil in new sustainable banking business—well on the way to exceeding its RM15bil target ahead of schedule.
