Second, Malaysia should pursue the huge potential for green investment in electric vehicles ( EVs ), including motorcycles, and in hydrogen-based industries. Malaysia might become a leader in innovation, for instance, by utilizing battery-swapping systems in EVs to shorten recharge cycles and extend battery life. The opportunities for EV deployment, such as the road tax deduction and individual tax deduction relating to EV costs, are justified. An EV trend may be crucial to Kuala Lumpur’s 2030 goal of reducing coal power to 45 per share of the 2005 levels.
The biggest desire for green tech lies in a gas discovery. A clean power alternative to natural gas that produces enormous heat as a byproduct as well as water. However, its commercialism faces difficult challenges, particularly due to the high cost of producing hydrogen. The options are already growing, with gas being increasingly used in substances, cotton fabric production, cup, electronics, and metalworking.
Malaysia has great potential in this area as positive experiences emerge, for instance in Sarawak, where projects such as H2ornbill and H2biscus, in collaboration with Asian and North Korean lovers respectively, have made strides in hydrogen-based, export-oriented business.
Third, Malaysia needs to sea up administrative and financial assistance. In addition to money models, incentives, and grants for alternative technology adoption and R& development, there are other important areas of focus. D.
The state needs clearer standards and regulations in green markets, and more strict monitoring of efficient investments, to increase transparency and accountability. The state could also take into account the creation of a natural classification, which local banks have indicated would be helpful in setting criteria for approving natural loans. Lastly, enhancing the mobility and quality of data will be important for policy research, monitoring, evaluation, and future reforms.
With its big rely on fossil fuels, Malaysia faces a difficult but necessary road to decarbonisation. Yet, the country is well-positioned to plug into emerging industrial opportunities for low-carbon growth in industry and travel. Moving forward, Malaysia has confidently and quickly encourage green investments and work toward its carbon reduction objectives.