Page 413 - Westport Guide To Malaysia

THE GUIDE TO MALAYSIA 405
prioritising nature-based solutions (NbS), circular economy, constructed wetlands and such like.
All of these initiatives are required to conform to the Government’s Shared Prosperity Vision 2030, a commitment to achieve sustainable growth along with fair and equitable distribution so that no one should be left behind.
A good example of this integrated policymaking
is the incorporation of
the National Water Sector Transformation 2040 (WST2040) programme into the 12th Malaysia Plan. This well-planned strategy addresses capacity and capability building within Malaysia while developing the country into a regional and global hub for water know-how by 2040.
It also provides ample opportunities to invest in Malaysia’s water sector as well as generate income via
water-based eco-tourism, non-revenue water, demand management, groundwater exploration and other activities in line with the integrated water resources management (IWRM) framework.
Malaysia is committed
to Clean Development Mechanism (CDM) projects under the Kyoto Protocol and has set up the Malaysian Green Technology and Climate Change Corporation (MGTC) to encourage the buying, selling and financing
of green technologies, especially in the energy, water, construction, housing, transport, waste, and manufacturing sectors. The Government also provides an Investment Tax Allowance for purchasing green technology equipment/assets and an Income Tax Exemption for providing green technology services.
Businesses and Industries
Bursa Malaysia Securities Berhad has produced a Sustainability Reporting Guide to embed sustainability into the business activities of
public listed companies in Malaysia. The guide helps the organizations to identify, evaluate and manage
their material economic, environmental and social risks and opportunities and encourages them to take holistic approaches to these issues. For example, Heineken Malaysia Berhad announced a significant sustainability milestone
by balancing more than 100% of the water used
in its products in 2020.
This water stewardship initiative was carried out through a partnership between Heineken’s SPARK Foundation and the Global Environment Centre (GEC), a Malaysian environmental NGO. Similarly, the Malaysian Sustainable Palm Oil (MSPO) Certification Scheme aims to ensure the green growth of the country to contribute to achieving sustainable development goals.
Air Quality and Green Energy
An increasing number
of businesses and organizations in Malaysia are transitioning to the use of green energy and minimizing their carbon footprints. For further details on Malaysia’s
Solar-powered barge Interceptor, operated by Dutch NGO Ocean Cleanup, scooping waste from the Klang River. Inset: Collected trash rolls up a conveyor belt to be dropped into dumpsters. The barge can collect 50 tons of waste daily.