Speeches & Statements

3^RD EU-INDO PACIFIC MINISTERIAL FORUM

ROUNDTABLE SESSION 3

The Green Transition:

Partnering for a Sustainable Future

2 FEBRUARY 2024, 1000-1300 HRS

BRUSSELS, BELGIUM

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SPEAKING NOTES

FOR YB FOREIGN MINISTER

Excellencies,

1. Good morning. Thank you to His Excellency, Commissioner Maros Sefcovic, and His Excellency, Mr. Bendito dos Santos Freitas, for convening us today, to discuss what is an ever-growing concern, not only for the EU and Indo-Pacific, but for the world at large.

2. Climate change poses an existential threat to all of us, and awareness of this around the globe, has never been higher. Across the world, more and more governments are awakening to the fact, that the Green Transition plays a pivotal role, in the pursuit of sustainable development, and environmental stewardship. This is a goal we all share, Malaysia included.

3. Last August, Malaysia launched its National Energy Transition Roadmap, and committed to achieving net-zero greenhouse gas emissions, by 2050. Malaysia is actively implementing policies, and initiatives, to increase renewable energy capacity, to 70% by 2050.

4. The World Economic Forum has placed Malaysia, as the highest-ranking Southeast Asian country, in its 2023 Energy Transition Index Report. This is reflective of Malaysia's commitment, to addressing critical issues, related to energy transition and climate action.

5. We are not the only ones in Southeast Asia, nor the Asian continent as a whole, with such aims. Today I would like to highlight, that the Global South does indeed aspire to decarbonise. We are, after all, greatly jeopardised by rising sea levels and rising temperatures. We do not lack climate ambition. However, what we lack is adequate support. We hope for greater support and inclusion, as we move forward along the green transition journey.

6. Malaysia will continue to pivot, on practical solutions that drive progress, balancing climate ambition, sustainability and economic growth, as we address the energy trilemma.

7. We believe that the way forward, demands a progressive cooperation, and collaboration model.

8. The increasing number of technical barriers to trade, or unilateral measures by developed countries, on the basis of environment and sustainability, is counter-productive.

9. Trade is an important lever, for accelerating Sustainable Development Goals (SDGs), for developing countries. Erecting barriers to trade can erode multilateralism and cooperation, as well as hamper the growth of developing nations.

10. The COP28 yielded some commendable outcomes. Nevertheless, energy transition is expensive, and cannot be done overnight. Those who can do more, should. We call on developed countries, including the EU members, to do more. Moreover, the loss and damage fund should be operationalised urgently.

11. Energy transition should be just, inclusive and equitable, taking into account the developmental needs of different countries.  The Common But Differentiated Responsibilities, and Respective Capabilities, is a fundamental principle of the Paris Agreement, that must be upheld. 

12. Addressing challenges and opportunities in clean energy, while ensuring a just transition, requires broad support from developed countries for developing countries, particularly on financing, incentives, technology, and infrastructure. 

13. For ASEAN and the EU, this collaborative effort could be undertaken, both bilaterally, and within the framework of ASEAN-EU cooperation.

14. Moving forward, I hope that we may take greater strides, towards not only a cleaner, more sustainable world, but a more inclusive one. Humanity cannot progress, if half the world has been left behind.

Thank you.