BUSINESS

BCG economy model is a pathway to realise Putrajaya Vision 2040 -- Mohd Zuki

18/11/2022 10:19 PM

By Linda Khoo Hui Li

BANGKOK, Nov 18 (Bernama) -- The Bio-Circular-Green (BCG) economy model will serve as a pathway to sustainability targets and green goals in the Asia-Pacific region to realise the Putrajaya Vision 2040.

Chief Secretary to the Government, Tan Sri Mohd Zuki Ali, said from the perspective of sustainable growth, the BCG economy model charts a path towards economic wellbeing that is supported by green elements in realising the Putrajaya Vision as well as consolidating the role of APEC as a staunch proponent of sustainability and inclusivity. 

“Today, economic measures and environmental policies  go hand-in-hand. These elements are no longer mutually exclusive.

“On this note, I wish to reaffirm that, within our domestic context, sustainable growth and mitigation of climate change are high on our (Malaysia’s) national agenda.

“Reducing the intensity of greenhouse gas emissions by 45 per cent by 2030 is one of the key priorities under the 12th Malaysia Plan,” he said in during his intervention at the 29th APEC Economic Leaders’ Meeting (AELM) in Bangkok today.

He also shared Malaysia’s initiative, the launch of National Energy Policy, which outlines actions towards energy transition as well as mechanisms to capitalise on emerging technologies and promote efficient usage of  energy. 

Meanwhile, Mohd Zuki said the BCG economy model could be key to facilitate the flow of quality investments into high technology sectors and innovative industries. 

As a start, he said, the BCG model will likely encourage investors to incorporate environmental, social and governance (ESG) elements into operations, promoting ethical business conduct and attracting more sustainable investments into the Asia-Pacific region. 

“By driving the ESG agenda and enhancing the ongoing work on Inclusive and Responsible Business and  Investment (IRBI), APEC is on track to establish a regional reference point for both the public and private sectors embarking on sustainable development initiatives,” he said. 

Mohd Zuki said in this vein and given Malaysia’s recent updates to its investment policy, with a specific focus on ESG, Malaysia is pleased to share its national experience with, and learn from, fellow APEC economies.

“Such exchanges could facilitate the curation of common knowledge and experiences from all of us,  which could then be distilled into best practices for the region,” he added. 

Mohd Zuki, in the capacity as the Special Representative of the Prime Minister, is leading a delegation to the 29th AELM.

The summit, with the theme “Open. Connect. Balance.”, is the group’s first in-person summit in four years. 

-- BERNAMA 

 

 


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