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Tag: #IGEM2023

  • IGEM 2023: Driving Innovation Towards a Net Zero Carbon Footprint

    The 14th International Greentech & Eco Products Exhibition & Conference Malaysia (IGEM 2023) was officially launched today. It aims to achieve RM4 billion in business opportunities and attract 40,000 visitors from 40 countries. The event was inaugurated by YAB Dato’ Sri Haji Fadillah Haji Yusof, the Deputy Prime Minister, representing YAB Dato’ Seri Anwar Ibrahim, the Prime Minister of Malaysia. The ceremony was attended by cabinet ministers, ambassadors, international delegates, and other distinguished guests.

    Organised by the Ministry of Natural Resources, Environment and Climate Change (NRECC) and co-organised by the Malaysian Green Technology and Climate Change Corporation (MGTC), IGEM 2023, Southeast Asia leading trade event for green technologies and eco solutions, has an impressive track record of having delivered RM41 billion in business leads, over 530,000 visitors from over 112 countries since 2010.

    Referring to the Prime Minister’s speech YAB Dato’ Sri Haji Fadillah bin Haji Yusof said, “Transitioning to a net-zero world calls for nothing less than a complete transformation of how we produce, consume, and move about. A growing coalition of countries, cities, businesses, and other institutions are pledging to get to net-zero emissions. More than 70 countries have set a net-zero target.”

    “Without a doubt, IGEM 2023 plays a decisive leadership role in accelerating and delivering the region’s Net Zero and just energy transition agenda. There are enormous opportunities to steer us to sustainability while ensuring robust economic and social progress. Something that is exemplified in the Malaysia Madani way of life that my government is strongly advocating and adopting,” he added.

    During the opening ceremony, YAB Dato’ Sri Haji Fadillah bin Haji Yusof unveiled the much-awaited Hydrogen Economy and Technology Roadmap, to unlock the prospect of harnessing a new energy carrier and the knock-on economic effects it would bring. Additionally, Leader Energy signed a strategic partnership with BASF Stationary Energy Storage GmbH, to promote the development of long-duration energy storage projects in Southeast Asia, having already identified 8 LDES projects with a total estimated value of RM1.8 billion.

    YAB also witnessed the signing of a memorandum of understanding (MoU) among PMB Aluminium Sdn. Bhd., Sumitomo Corporation Asia & Oceania Pte. Ltd and Nandina Remanufacturing Pte. Ltd. to expand the use of raw materials derived from retiring aircraft such as airplanes and helicopters, aligning with their shared vision of growing the circular economy to drive sustainable manufacturing.

    Furthermore, during the opening ceremony, Tenaga Nasional Berhad unveiled the Malaysia Green Attribute Trading System, or mGATS, as a national marketplace for Malaysia Renewable Energy Certificates (mREC), as part of the Government’s efforts to further propel the RE sector.

    Delivering the welcoming remarks, Minister of Natural Resources, Environment and Climate Change, YB Nik Nazmi Nik Ahmad said, “Having had the opportunity yesterday to personally meet with some of the delegates, visit the exhibition floor and take part in some of the conference sessions, it is clear to me that IGEM’s role as one of ASEAN’s leading trade events for green tech and eco products remains as relevant today as it was when its doors first opened in 2010.”

    “The government’s energy transition intent under the National Energy Transition Roadmap augurs well with my Ministry’s current effort to decarbonise the power sector through accelerated deployment of RE capacity in our power installed capacity from the existing 25% to 70% in 2050,” he concluded.

    The exhibition floor is organised by the sub-themes of Empowering Cities, Electrifying Mobility, Decarbonising Energy, Accelerating Circularity and Conserving Biodiversity with leading corporations such as UOB, Cypark Resources Berhad, Polymateria Limited, Bio Eneco, Lenovo, Canadian Solar and Cradle Fund making a presence with their impressive booths. The exhibition also features pavilions for Austria and Canada.

    Some of the prominent Malaysian participants include the Ministry of Health (MOH), the Ministry of Science, Technology and Innovation (MOSTI) and the state of Sabah, to name just a few. A key highlight of IGEM this year is the AtoZero ASEAN Summit which is co-located and runs concurrently with the event. Powered by Gentari, the Summit convenes the who’s who from across the net zero value chain, including key decision makers and changemakers to comprehensively explore pathways, policies and business opportunities to drive the global net zero transition agenda.

    IGEM is hosting several conferences on topics such as climate change, low-carbon cities, science and innovation, hydrogen economy, waste management, circular economy, water, energy efficiency and the United Nations Sustainable Development Goals.

    IGEM is also featuring the much-in-demand business networking sessions organized by the Malaysian Investment Development Authority (MIDA), Malaysia External Trade Development Corporation (MATRADE) and MGTC.

    During the three-day event, numerous Memoranda of Understanding (MoUs) are being signed between Malaysian and international parties, reinforcing their commitment to collaborate in the race towards net zero.

    For further details on IGEM 2023, please visit www.igem.my.

  • Pioneering Sustainability: World’s First Shariah-compliant Greentech Fund by Malaysian Green Technology and Ficus Capital

    Pioneering Sustainability: World’s First Shariah-compliant Greentech Fund by Malaysian Green Technology and Ficus Capital

    Ficus Capital, recognized for its dedication to Environmental, Social, and Governance (ESG) and Islamic investments, joined hands with the Malaysian Green Technology and Climate Change Corporation (MGTC) to introduce the inaugural Shariah-compliant Greentech Fund worldwide. The announcement was made at the prestigious International Greentech & Eco Products Exhibition & Conference Malaysia (IGEM 2023) held at the Kuala Lumpur Convention Centre, with YB Dato’ Sri Huang Tiong, the Deputy Minister of NRECC, leading the official launch event.

    The primary objective of the Greentech Fund is to channel investments into green technology projects and enterprises that contribute to Malaysia’s ambition of achieving net-zero greenhouse gas emissions as early as 2050. The setup adheres to Securities Commission rules for Sustainable and Responsible Investment, which mandate that the fund incorporate sustainability considerations such as the Sustainable Development Goals (SDGs) or United Nations Global Impact (UNGC) Principles.

    The Greentech Fund is dedicated to promoting green growth in which investors will actively participate in GHG emissions reduction and avoidance as well as carbon offset schemes and reap financial rewards. This demonstrates how closely the fund adheres to ESG guidelines and highlights its potential to investors looking for financial gain and environmental impact.

    The investments are expected to reduce or avoid more than 9 million tons of greenhouse gas emissions through projects across various green industry sectors, such as Renewable Energy, Biofuel and Biomass Conversion, Waste Management and Biogas, Sustainable Agriculture and Forestry, Sustainable Transportation, and other environmental projects which complement several SDG pillars.

    Investing in green projects and companies harmonises perfectly with our ‘Madani Economy: Empowering the People’ framework, aiming to enhance lives and reshape our economic landscape.” said Ts Shamsul Bahar Mohd Nor, Group Chief Executive Officer of MGTC.

    Over the past 25 years, MGTC has led Malaysia’s green industry, bringing in substantial green investments worth over RM50 billion, that have reduced 16.4 million metric tonnes of GHG emissions and creating over 23,000 green jobs. Initiatives such as the Green Technology Financing Scheme (GTFS), MyHIJAU Mark, and Green Tax Incentives have catalysed positive change in the green economy sector.

    GTFS has played a pivotal role in propelling green technology development in Malaysia by providing essential financial backing. Yet, throughout its implementation since 2010, there is a notable financing gap of RM14.5 billion. The demand for green capital and green financing outweighs the supply. Greentech Fund can complement these efforts by providing equity-based financing to green companies and green projects. This approach can encourage innovation, entrepreneurship, and the growth of sustainable businesses in Malaysia, thereby expanding the landscape of sustainable funding options for green companies.

    “A tactical approach to address these financial gaps is establishing the Greentech Fund. This will support innovation, encourage entrepreneurship, and propel the expansion of sustainable enterprises in Malaysia by providing equity-based funding to green projects and businesses. It significantly expands the sustainable finance choices accessible to eco-friendly projects and businesses. This aligns with our goal of decreasing carbon emissions, contributing RM100 billion in green investment, and creating 230,000 green jobs by 2030.” Ts. Shamsul Bahar added.

    Ficus Capital recognises the vast potential within green investments, particularly in Southeast Asia, primarily focusing on Malaysia. “Our fund is strategically designed to offer attractive returns to investors while aligning with their growing interest in climate change mitigation opportunities. Partnership with MGTC is pivotal in advancing the growth of projects and companies in Malaysia while reinforcing our dedication to fostering sustainability and contributing to the nation’s green aspirations,” said Abdullah Hidayat, Co-Managing Partner of Ficus Capital.

    Unlike conventional financing, this fund adheres to Shariah principles, ensuring fair and transparent contracts for its fund’s projects and companies. Fair in this context means that the fund will not impose any interest charges in its investment agreements, and transparency shows that contracts are based on market prices and risk-sharing arrangements.

    The fund is fully aligned with ESG principles, making it a champion of responsible investing. The fund focuses on the Quadruple Bottom Line, encompassing People, Planet, Profit, and Principle. This framework is an integral part of the larger ESG-Islamic framework embraced by the fund, highlighting its dedication to holistic sustainability.

  • Enhancing Public Understanding: Malaysia’s New Climate Action Simulator

    The Ministry of Natural Resources, Environment and Climate Change (NRECC), in partnership with the Malaysian Green Technology and Climate Change Corporation (MGTC), is pleased to announce the official launch of the Malaysia Climate Action Simulator (MCAS). YB Nik Nazmi Nik Ahmad, the Minister of NRECC, presided over the inauguration ceremony at the prestigious International Greentech & Eco Products Exhibition & Conference Malaysia (IGEM 2023), held from October 4th to 6th at the Kuala Lumpur Convention Centre.

    Funded by the UK Government’s International 2050 Calculator Programme and supported by esteemed technical partners, Mott MacDonald, Imperial College London, Ricardo, and CLIMACT, MCAS is a groundbreaking tool designed to empower users to simulate technically feasible low-carbon future scenarios up to the year 2050. It offers a dynamic visualisation of Malaysia’s carbon emission trajectory and facilitates a comprehensive exploration of diverse pathways to mitigate greenhouse gas (GHG) emissions across critical sectors, including energy, transport, building, industry, land use, and waste.

    MCAS is a versatile communication tool to increase public awareness about the critical role of technology, policy, and behaviour in reducing GHG emissions. Furthermore, it is a valuable reference tool for businesses transitioning towards green technology solutions. Featuring an interactive and user-friendly web interface, MCAS empowers users to simulate different behaviours, navigate technological options, select potential pathways, and identify sector-specific roles.

    It also offers a common language for discussion on climate change mitigation measures. It provides the means to plan and visualise decarbonisation pathways and make a comparative analysis. MGTC will actively engage potential users through events dedicated to introducing and demonstrating MCAS as an educational and awareness communication tool. This outreach will primarily target industry stakeholders, universities, research institutes, non-governmental organisations, and the public.

    GCEO of MGTC, Ts. Shamsul Bahar Mohd Nor, expressed enthusiasm about the future of MCAS, saying, “MGTC has strategic plans to collaborate with universities in developing educational modules centered around MCAS and integrating it into the university curriculum. Additionally, MCAS remains open for further research contributions, aiming to facilitate more informed and rational decisions on various pathways to mitigate GHG emissions in Malaysia.”

    Her Excellency Ailsa Terry CMG, British High Commissioner to Malaysia, welcomes the rebrand and launch of the Malaysia carbon pathway calculator – MCAS, and said, “The UK is working closely with international partners like Malaysia to address the global climate challenges. Since 2012, the UK has committed £6 millions of International Climate Finance to the international community to support the creation of their respective 2050 Calculators. So far, we have helped create 19 national and 6 regional Calculators which have been used to develop NDCs and action plans, raise awareness and inform long-term strategies.

    “The launch of MCAS is a culmination of our knowledge sharing and technical collaboration with Malaysia, and I am pleased that it plays a role in mitigating greenhouse gas emissions across key sectors in Malaysia. This is part of our ongoing ambitious partnership with Malaysia to address the shared challenge of climate change and energy transition.”

    Mott MacDonald’s 2050 Calculator Programme Country Manager in Malaysia, Danny Giam, who has overseen the development of MCAS said “Mott MacDonald is delighted and excited to see the launch of the Malaysia Carbon Calculator (MCAS) come to fruition. I am excited and look forward to seeing the tool being adopted by various stakeholders from different backgrounds in the near future. It will be an important enabler in Malaysia’s journey to achieve zero net emission by 2050.”

    To access the Malaysia Climate Action Simulator (MCAS) webtool and embark on the journey towards a sustainable, low-carbon future, please visit www.mcas.my.

  • MGTC’s Sustainability Drive: Showcasing Collective Strength at IGEM2023

    KUALA LUMPUR, 6 OCTOBER 2023 –  On the third day of the International Greentech & Eco Products Exhibition & Conference Malaysia 2023 (IGEM 2023), the Malaysian Green Technology and Climate Change Corporation (MGTC) unveiled a new series of pioneering partnerships and initiatives designed to promote environmental responsibility and climate action in Malaysia.

    In partnership with the UK Government, MGTC is proud to introduce the Malaysia Climate Action Simulator (MCAS). MCAS is a simulation tool to enable stakeholders to visualise low-carbon future scenarios through 2050. This cutting-edge tool will facilitate the exploration of pathways to mitigate greenhouse gas (GHG) emissions in various sectors, including energy, transport, building, industry, land use, and waste. MCAS is a vital communication tool to raise awareness about the impact of technology and policy choices on GHG emissions. In a bid to promote sustainability education, MGTC is also collaborating with universities to develop educational modules centered around MCAS, potentially integrating it into a university syllabus, MCAS is open to further research contributions, fostering informed decision-making for a sustainable future. The MCAS web tool can be accessed at www.mcas.my.

    MGTC is also thrilled to announce a strategic Memorandum of Cooperation (MoC) with the National Water Services Commission (SPAN) in support of sustainability in Malaysia’s water sector. This partnership will focus on the adoption of the Low Carbon Operating System (LCOS) for measuring carbon emissions. MGTC will provide onboarding support for LCOS, while SPAN, as the regulatory authority, will lead the widespread adoption of this platform.

    Together, they aim to drive environmentally responsible water management practices, aligning with Malaysia’s commitment to a greener future. The collaboration’s total value is RM368,265.20, covering the measurement of Scope 1, Scope 2, and Scope 3 emissions for SPAN and 12 water operators. This partnership also encompasses the promotion of climate change awareness, LCOS adoption, and the establishment of a standardised system for carbon emissions measurement and reporting in the water industry.

    In addition, an MoC has also been established between MGTC and Greehill Asia-Pacific Pte Ltd, aiming to explore and evaluate potential joint endeavours in the domain of urban green infrastructure and ecosystem services management. This partnership will encompass comprehensive surveys, automated inventory processes, tree risk analysis, quantification, visualisation, reporting, and monitoring of urban green infrastructure, enhancing urban planning and sustainability efforts. These activities are designed to bolster urban planning initiatives, enhance sustainability practices, and ultimately contribute to the development of more environmentally resilient urban environments.

    In a significant stride towards plastic circularity and sustainability, MGTC has forged a Memorandum of Collaboration (MoC) with the Malaysian Recycling Alliance (MAREA). This collaborative effort seeks to harness MGTC’s position in promoting green growth and MAREA’s specialization in Extended Producer Responsibility (EPR). Together, they aim to establish strategic alliances, facilitate the exchange of technical expertise, implement capacity development programs for EPR, foster eco-design and eco-innovation in plastic packaging, and educate communities about the principles of plastic circularity. This partnership is aligned with Malaysia’s overarching green growth strategies and the objectives outlined in the Malaysia Plastic Sustainability Roadmap (MPSR).

    GCEO of MGTC, Ts Shamsul Bahar Mohd Nor mentioned, “These initiatives and partnerships collectively reflect MGTC’s unwavering commitment to fostering sustainability, environmental responsibility, and climate action in Malaysia. These collaborations span a wide spectrum of critical areas and exemplify Malaysia’s dedication to building a greener and more sustainable future.”

    “These collaborations not only coincide with Malaysia’s initiatives for environmentally sustainable growth and the SDGs, but also serve as essential contributors to addressing worldwide challenges associated with climate change. As we progress, MGTC remains steadfast in its commitment to these transformative initiatives, guided by a distinct vision of constructing a more sustainable and resilient future for all, leaving no one behind,” he added.