Tuesday, September 13, 2022
HomeTechnologyBreaking new floor: Sustainability in Malaysia

Breaking new floor: Sustainability in Malaysia

Expertise is central to the nation’s sustainability agenda. Malaysia’s industrial hub, Kuala Lumpur, has rolled out a good metropolis plan, which incorporates accelerating digital transformation by specializing in schooling and selling cloud applied sciences and synthetic intelligence (AI), amongst different areas. The Malaysian authorities has additionally emphasised know-how funding in its Funds 2022, with as much as MYR 100 million (US$ 23.7 million) in grants for areas akin to good automation and at the least MYR 30 billion (US$ 7 billion) for government-linked firms investing in renewable vitality, supply-chain modernization, and 5G infrastructure.

In recent times, Kuala Lumpur has additionally seen an growing variety of “greening” alternatives. As an example, the town governance has employed a wise “Metropolis Mind”, which makes use of Alibaba Cloud’s computing techniques to optimize companies like visitors management and even calculate the perfect routes for emergency companies. Worldwide know-how and mobility firms akin to Microsoft and Korea-based Socar, that are eyeing inexperienced innovation and enterprise alternatives, have additionally invested and expanded their operations in Kuala Lumpur. On the similar time, conventional industries, particularly vitality and electronics, have been attempting to reinvent themselves.

In gentle of this shifting setting, this report explores what international firms in Better Kuala Lumpur are doing to attain their ESG targets, the alternatives the placement has to supply, and the way their native experiences may very well be utilized globally.

The important thing findings of this report are:

Malaysia is dedicated to turning into a regional decarbonization chief. The nation’s present grasp plan that charts its financial improvement by way of 2025 contains quite a few applications geared toward advancing sustainability by growing renewable energy-generation capabilities, creating inexperienced mobility options, and constructing sustainable and resilient cities. This sustainability dedication comes even because the nation continues to derive financial development from historically carbon-intensive industries, akin to oil and fuel improvement, vitality manufacturing, and agriculture. But, whereas some nations’ reliance on fossil fuels and different conventional industries weighs on their decarbonization commitments, Malaysia makes use of its deep, globally built-in business clusters and provide chains to develop new, greener enterprise processes and fewer carbon-intensive manufacturing and logistics processes.

Better Kuala Lumpur has seen an growing variety of “greening” alternatives for a number of the nation’s conventional innovation clusters, particularly vitality, electronics manufacturing, IT outsourcing, and different digital economic system sectors. Asia’s fast-growing digital economies have additionally created distinctive synergies for digitally “native” companies that need to use Kuala Lumpur as a hub from which they’ll faucet inexperienced enterprise alternatives within the area. These embrace Korean inexperienced mobility agency Socar, which is increasing its “people-to-people” ridesharing mannequin throughout Southeast Asia from its Kuala Lumpur base. And Schlumberger, which has one in every of seven international “Innovation Factori” facilities in Kuala Lumpur. The middle works to speed up the adoption of its AI for reinforcing vitality transition efforts in East Asia.

Malaysia’s maturing sustainability stance is making a tradition of monitoring, measurement and, in the end, accountability. This may function a framework for ESG-minded companies to chart their very own journeys. Such efforts are removed from beauty, they’re important to a market’s financial prospects. World, sustainability-oriented companies can each obtain their ESG targets by way of their Better Kuala Lumpur operations and use their Malaysian expertise as a template for sustainable innovation of their international operations. Malaysia’s function as a worldwide sustainability hub is essential, as its economic system uniquely straddles many business sectors, together with excessive know-how and vitality manufacturing, that are pivotal in shifting the world’s improvement towards a low-carbon future. Collaboration and communication are important to those efforts.

Obtain the total report.

This content material was produced by Insights, the customized content material arm of MIT Expertise Overview. It was not written by MIT Expertise Overview’s editorial employees.



Please enter your comment!
Please enter your name here

Most Popular

Recent Comments

%d bloggers like this: