In his first tackle earlier than the U.N. Basic Meeting in New York this September, Prime Minister Datuk Seri Anwar Ibrahim emphasised the significance of worldwide motion on local weather change and referred to as upon developed nations to fulfil their dedication to mobilise US$100 billion yearly to assist local weather ambitions within the International South.
As he famous, Malaysia is already experiencing many opposed results of local weather change, together with rising temperatures, intensified monsoons, and erratic climate patterns, all of which have disrupted native livelihoods and degraded native ecosystems. “As such, now we have not a second to lose,” he stated.
Methane gives the quickest path to gradual the speed of warming in our lifetime.
Methane is a potent greenhouse fuel and the first part of pure fuel. It’s a main reason behind present international warming, with extra methane within the environment at this time than any time in fashionable historical past. No less than 25 per cent of at this time’s international warming is pushed by methane from human actions, and the world’s oil and fuel business is a number one contributor. Oil and fuel amenities supply the quickest, most inexpensive and easiest method for us to scale back methane emissions now.
The Environmental Protection Fund (edf.org) is a world nonprofit organisation that has led scientific efforts to focus the world’s consideration on the significance of lowering methane emissions. Our analysis exhibits that concerted international motion utilizing present applied sciences can gradual the speed of warming by as a lot as 30 per cent by 2030.
This methane alternative is already being seized by Malaysia, the place the federal government and Petronas have dedicated to lowering methane emissions, significantly from the oil and fuel business. By doing so, Malaysia is clearly displaying its dedication in the direction of the International Methane Pledge (GMP) and the Paris Settlement.
Because the Ministry of Economic system develops the Pure Fuel Roadmap below Malaysia’s not too long ago launched nationwide vitality transition roadmap (NETR), and the Ministry of Power and Pure Assets receives enter from the COP28 Local weather Change Advisory Panel, EDF respectably requests that Minister Rafizi Ramli and Minister Nik Nazmi think about the next choices to attain Malaysia’s vitality transition and Web Zero targets:
- A nationwide methane mitigation coverage. Round 80 per cent of no-cost methane discount actions come from the oil and fuel business and characterize one of many least expensive choices to scale back greenhouse fuel emissions in any financial system. In accordance with the Worldwide Power Company (IEA) 35 per cent of Malaysia’s methane emissions come from the vitality sector, and primarily from the oil and fuel business. In 2021, this represented roughly US$212 million of home fuel that was wasted as an alternative of offered and used. The local weather advantages of eliminating this methane waste can be the identical because the removing of 9.3 coal energy crops.
- A home cost on methane emissions from oil and fuel amenities. Malaysia is the second-largest oil producer in Southeast Asia and the world’s fifth-largest exporter of liquefied pure fuel (LNG). Its main buying and selling companions are Japan and South Korea, each of whom are more and more favouring low-emissions LNG. In July, Japan, South Korea, the USA, the EU and Australia introduced that they’re collaborating to restrict methane emissions from LNG provide chains.The EU this month launched the world’s first carbon border tariff. A home methane cost tax would supply incentives for the oil and fuel business to develop pure fuel on the lowest presumably methane emissions depth to safeguard the greater than US$1 billion/12 months in commerce income per 12 months from EU exports.
- Coverage assist for methane innovation. Innovation is a key driver to creating new alternatives that may spur financial progress and enhance home prosperity. A partnership between the UAE and Malaysia, each main producer international locations, to stand-up a Methane Innovation Hub in Malaysia can be a first-of-a-kind South-South cooperation for decarbonisation. Coverage assist for such an initiative could possibly be within the type of “Moonshot” R&D tasks to develop options to the Power Trilemma – vitality safety, affordability and environmental sustainability.
At COP27 final 12 months, EDF supported the earlier Malaysian authorities in organising a high-level Methane Panel with senior local weather authorities and company leaders from the US, Canada, Malaysia, and Petronas. In November 2023, Malaysia will probably be internet hosting the Asia Pacific Local weather Week demonstrating the present authorities’s dedication to deal with local weather challenges on a regional scale. The upcoming COP28 in Dubai, UAE can be the perfect venue for Prime Minister Datuk Seri Anwar Ibrahim to announce revolutionary coverage choices to showcase his authorities’s local weather management position on the worldwide stage.
Dr. Shareen Yawanarajah is a director at EDF, main vitality transition work within the International South, drawing on her in depth business profession as a geoscientist, and expertise in local weather and vitality coverage.
