Malaysia and UNDP to jointly develop Green Economy Module framework, Deputy Minister announces

KUALA LUMPUR, June 25 — Malaysia and the United Nations Development Programme (UNDP) are jointly developing a green economy module framework based on the country’s needs, said Deputy Minister of Economic Affairs Datuk Hanifah Hajar Taib.

She said the module aims to identify current economic baselines by taking into account climate factors in analysing climate change risks and policies that can be used at the micro-economic planning level.

“The goal is for the country’s socio-economic development to be inclusive and sustainable.

“There will be more attention paid to the element of measuring green economy performance,” she told a special sitting of Parliament today.

It is therefore the shared responsibility of all stakeholders to ensure that Malaysia achieves its target of net-zero carbon emissions by 2050, she said.

Work under the green initiative has been implemented since the 10th Malaysian Plan (10MP) and will continue through the 12th MP, she said.

The Ministry of Finance will therefore play a key role in disseminating resources and initiatives towards this end and supporting the industrial sector.

Among the funding sources and initiatives developed are the RM2 billion National Energy Transition Fund and a RM200 billion fund by financial institutions to encourage industries to move towards a low-carbon economy. — Bernama

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