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Take 5 - Green ports of the future: Setting a decarbonizing strategy
Malaysia’s transition to a low-carbon, climate-resilient economy is driving industry leaders to prioritize their focus on reducing greenhouse gas (GHG) emissions and investing in low emissions technologies.
In supporting the global decarbonization initiatives, Malaysia has set a reduction target of up to 45% of GHG emission intensity to GDP by 2030 and this demands the participation of economic stakeholders across all sectors. The International Maritime Organization (IMO) has set a reduction target of 50% of total annual GHG emissions and a 70% reduction in carbon dioxide (CO2) emissions from the sea transportation sector by 2050.
To drive a port's green transformation, organizations can consider a two-phase approach:
- Assessment of baseline emissions
- Identification of green opportunities
Malaysia, as a significant international trade economy, can play a pivotal role in global decarbonization efforts to combat extreme climate change. Setting a green strategy for the maritime industry, from ports to transportation logistics and facilities, can ensure Malaysia’s alignment to the global supply chain.
This Take 5 business alert attempts to discuss current and future decarbonization initiatives to green Malaysia’s maritime sector.