In a recent discussion, Dr. Ching Thoo Kim from NRES shared insights about Malaysia’s updated climate change bill. This bill aims to enhance the country’s response to climate challenges. Last year, the initial draft lacked a focus on adaptation. After gathering feedback from organizations and the public, they decided it was essential to include this important aspect.
A consultation paper released in October 2024 detailed plans for national climate targets, a regulatory body, and a climate repository. It also proposed rules for carbon trading and a climate fund.
Climate Governance Malaysia stressed that adaptation is crucial, given the increasing threat of extreme weather. The World Bank estimated that flood-related costs in Malaysia could reach over $200 million annually if climate issues aren’t addressed. Moreover, there are calls for including protections for Indigenous land rights in this legislation.
The NRES is prioritizing public input this time. Dr. Ching noted, “We are listening more and engaging with various stakeholders.” However, the acting minister, Johari Abdul Ghani, announced that the bill’s presentation to parliament will be postponed until early next year. This delay aims to foster more dialogue with businesses and avoid potential pushback.
Ahmad Farid Mohammed from NRES highlighted that the bill will introduce emissions reporting requirements for companies ahead of a planned carbon tax next year. He emphasized the importance of accurate emissions data for effective policy implementation.
Looking ahead, Malaysia will focus heavily on adaptation strategies at COP30, the upcoming UN climate conference in Brazil. Dr. Ching mentioned that global discussions there will help shape the country’s local climate agenda through lessons learned. A national adaptation plan, known as MyNAP, is set to be finalized next year, supported by a $3 million grant from the Green Climate Fund.
Dr. Ching believes the new legislation will improve community resilience against climate risks such as floods and food insecurity. He stated that it would also empower communities to engage more actively in climate initiatives, fostering green jobs and sustainable practices.
These developments show that Malaysia is taking significant steps towards climate accountability and resilience. As businesses adapt to these changes, they will play a crucial role in shaping a sustainable future.
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