Malaysia’s Ministry of National Resources and Environmental Sustainability announced an updated National Climate Change Policy 2.0, reiterating its commitment to achieving its nationally determined contributions while supporting the draft for Malaysia’s Climate Change Act, slated for early 2025.

The country aims for a 45% reduction in economy-wide carbon intensity against GDP by 2030 compared to 2005 levels, and it seeks to achieve net-zero greenhouse gas emissions by 2050.

The National Climate Change Policy 2.0 serves as an umbrella, introducing a framework for Malaysia’s transition to a low-carbon economy. It encompasses all climate initiatives and provides guidelines for governance, low-carbon development, adaptation, climate financing and cross-border collaborations.

Additionally, Minister of NRES Nik Nazmi Nik Ahmad, said that Malaysia will prioritize the implementation of Article 6 of the Paris Agreement, among other global climate initiatives, at UNFCCC’s upcoming COP29 from Nov. 11-22.

Emissions reduction through carbon market mechanisms is gaining traction in the Association of Southeast Asian Nations. As Malaysia assumes the chairmanship in 2025, the Minister emphasized the importance of cross-border collaboration for further progress and development.