Strong policies, regulatory frameworks needed to realise NETR: KPMG

 

Strong policies and regulatory frameworks are needed to realise Malaysia’s National Energy Transition Roadmap (NETR), said KPMG.

Abhishek Kumar, KPMG’s head of infrastructure, strategy and operations in Malaysia, said to deliver tangible progress according to the NETR roadmap requires infrastructural and legislative reforms on a national scale.

“The government has a heavy responsibility to introduce robust policy and regulatory frameworks to establish a level playing field that fosters a favourable investment climate for financing and implementing its initiatives,” he said in a statement today.

Abhishek said the NETR is the strongest signal yet of the government’s commitment to achieving the country’s aspirations for net zero emissions by 2050.

He said the broader number of government agencies and regulatory bodies preparing the roadmap is a stride forward in progressive collaboration.

Phase 1 of NETR builds on the National Energy Policy 2022 – 2040 document.

It comprises ten flagship catalyst projects selected based on ongoing initiatives across various stakeholders in Malaysia, including government agencies and private organisations.

The statement said that to achieve the targeted 70 per cent renewable energy (RE) capacity by 2050, the NETR is expected to open up investment opportunities of between RM435 billion and RM1.85 trillion by 2050.

This gives clarity to investors and stakeholders on the efforts needed to achieve green power generation and grid integration of renewable energy sources, Abhishek said.

He said for starters, the ten flagship catalyst projects outlined in Phase 1 of NETR are expected to attract significant investments to accelerate Malaysia’s energy transition.

“For example, the RE zone project championed by Khazanah Nasional Bhd has the potential to attract billions in public-private investments and underscores Malaysia’s commitment to accelerate the energy transition.

“However, to fully realise the ambitions envisaged in the NETR will require a concerted approach from the local and international community to undertake further innovation and initiatives,” he said.

He, therefore, emphasised the need to advance new policies, projects, and infrastructure which will be critical enablers for corporates to embark on decarbonisation.

- Bernama