Malaysia is projected to have achieved a reduction in the greenhouse gas intensity of gross domestic product (GDP) of 35 per cent by year-end, in line with the country’s commitment to reduce carbon emissions by up to 40 per cent by 2020, said Prime Minister Datuk Seri Najib Tun Razak.
He said this demonstrated the country’s efforts in striving for sustainable development, including lower-emissions development, while also dealing with the adverse impacts of climate change.
“As we prepare ourselves to become a high-income economy by 2020, it is critical for us to adapt towards an economy that strikes the right balance between green and pro-business approaches.
“The two can in fact be combined with the introduction of new green technologies. These have huge potential both to drive growth and to improve the well-being of our population,” he said.
Najib, who is also Finance Minister, was speaking at the 6th International GreenTech and Eco-Products Exhibition and Conference Malaysia 2015 here Friday.
In December 2009, Najib pledged in Copenhagen that Malaysia would be adopting an indicator of voluntary reduction of up to 40 per cent in terms of emissions intensity of GDP by 2020 compared with 2005 levels.
Meanwhile, he said recycling would bring many benefits to the economy as it creates new business opportunities and employment, generate revenue through the sale of recycled goods, and help the country conserve its raw resources.
“Malaysia should be able to recycle 40 per cent of its waste by 2020, up from the present 14 per cent. This again would have its economic benefits, saving RM500 million over the next five years,” he said.
Najib said green businesses would likely contribute over RM22 billion to the national GDP by 2020, and RM60 billion by 2030.