Datuk Faiz Calls for Urgent Climate Action: Sarawak at the Forefront of the Green Revolution

Datuk Mohammad Faiz Azmi recently addressed the urgent need for climate action in Sarawak during the “Road to Belém” event in Kuching. As the Chairman of the Securities Commission Malaysia, he highlighted Sarawak’s leadership in renewable energy and its commitment to achieve net zero emissions by 2050.

The event, organized by the Ministry of Energy and Environmental Sustainability Sarawak (MEESty), gathered policymakers, diplomats, and leaders in sustainability to explore pathways toward a low-carbon future. Faiz expressed his gratitude to MEESty and praised Sarawak’s cultural richness and strong ties to the land.

However, he voiced concern about serious global climate challenges. Recent studies show that seven out of nine planetary boundaries have been crossed. Since the Industrial Revolution, global temperatures have risen by 1.1°C, with scientists warning they could increase by up to 3.1°C unless action is taken quickly.

Faiz underlined Sarawak’s proactive steps, such as the Sarawak Corridor Renewable Energy (SCORE) initiative launched in 2008. He mentioned several key strategies aimed at sustainability, including the Sarawak Sustainability Blueprint 2030 and the Sarawak Hydrogen Economy Roadmap (SHER). Together, these form a solid plan toward achieving net zero emissions by 2050.

Currently, Sarawak provides about 70% of its electricity from renewable sources, contributing nearly 10% of Malaysia’s GDP. The state is also set to launch the world’s largest offshore Carbon Capture and Storage facility, potentially reducing CO2 emissions by 3.3 million tonnes each year.

Moreover, Sarawak is emerging as a green hydrogen hub. Projects like H2ornbill and H2biscus are positioning the state as a leader in clean energy technology. Faiz noted that the capital market will play a crucial role in this transition, with plans for the Capital Market Master Plan 4 (CMP4) to support sustainable investments.

The CMP4 aims to enhance Shariah-compliant investments and develop innovative financial mechanisms like sustainability-linked bonds. Malaysia is also adopting the ASEAN taxonomy to stimulate sustainable investment in the region.

In addition, the upcoming National Sustainability Reporting Framework (NSRF) will create standardized corporate sustainability reporting. Tools are being developed to help company leaders integrate sustainability into their business strategies.

Sarawak has ample natural resources that can aid in generating quality carbon credits, and a national Carbon Market Policy will facilitate voluntary carbon trading. As chair of the ASEAN Capital Markets Forum, the Securities Commission Malaysia is working to establish guidelines for transparent carbon markets in the region.

To support climate resilience, initiatives like the Adaptation for Resilience Guide (mARs) will finance non-commercial climate projects. Faiz expressed hope that capital markets could significantly aid climate transition efforts.

In conclusion, Faiz remains optimistic about Sarawak’s potential to lead in climate action. His final thoughts echoed a call for guardianship of the planet, reinforcing the urgent need for collaborative efforts to ensure a sustainable future.



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