Malaysia and UNDP to jointly develop Green Economy Module Framework

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 Economy 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 aim is for the country’s socio-economic development to be inclusive and sustainable. More attention will be paid to the element of measuring green economy performance,” she said at a special sitting of Parliament on Tuesday.

All stakeholders therefore have a joint responsibility to ensure 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 added.

She stressed that the Ministry of Finance plays a key role in disseminating resources and efforts towards this end and supporting the industrial sector.

Among the funding sources and initiatives developed are the RM2 billion National Energy Transition Facility fund and a RM200 billion fund by financial institutions to encourage industries to transition to a low-carbon economy.

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