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Schneider Electric Urges Energy Transition-efficiency Balance To Decarbonize Malaysia's Industries

Credit: Schneider Electric

KUALA LUMPUR, Oct 9 (Bernama) -- Schneider Electric, urges companies to evaluate their energy strategies to ensure they address both the supply side (energy transition) and the demand side (energy efficiency), which are crucial for accelerating decarbonization efforts in Malaysia.

Schneider Electric Country President for Malaysia Eugene Quah said companies in Malaysia must accelerate their sustainability efforts by harnessing readily available technologies and fostering cross-sector collaboration.

“Energy consumption contributes to nearly 80 per cent of carbon emissions. Our immediate priority must be to fully leverage readily available technologies to avert climate crises and ensure safe, reliable and sustainable energy distribution and usage.

“In fact, 70 per cent of carbon dioxide emissions that are generated by energy can be reduced using existing technology. We must combine digital technologies with electrification to achieve greater sustainability,” he said in a statement today.

Quah made these remarks during a panel discussion at the Schneider Electric Innovation Day Kuala Lumpur 2024 that took place at the Kuala Lumpur Convention Centre.

Schneider Electric’s Innovation Day 2024 event brought together expert speakers from sectors including energy, sustainability, IT, oil and gas, and real estate for discussions on sustainable strategies for energy transitions, driving energy efficiencies in the building sector and the role of digitalisation in accelerating the country’s decarbonization efforts.

Quah said electrification is one of the most effective methods to tackle carbon and greenhouse gas emissions.

“A data-driven approach, encompassing industrial automation, digitization and digital twin technology, offers a clear pathway to Malaysia’s 2050 net-zero emissions goal.

“In simpler terms, electrification effectively replaces technologies that deploy fossil fuels like natural gas, oil, and coal with electric technologies. When electrification is integrated with digital tech, it enhances the ability to control and optimize energy usage, unlocking new levels of efficiency and precision in managing energy consumption,” he said.

A report from PwC revealed that Malaysia’s decarbonization rate is progressing at just 2.5 per cent annually far below the 7.2 per cent needed to meet the Paris Agreement's nationally determined contributions (NDCs).

Although 74 per cent of CEOs in Asia say that sustainability is a high priority for their company in the 2024 Schneider Electric Green Impact Gap Survey, they cite the maturity of clean energy alternatives as a barrier to decarbonization and are far more likely to invest in efficiency measures rather than transition. About 33 per cent of companies surveyed also still face challenges with energy security and resilience.

“While challenges persist, Malaysia has seen promising developments in the regulatory landscape. The introduction of the Energy Efficiency and Conservation Act (EECA) mandates energy management practices among large consumers, setting the foundation for more impactful demand-side regulations.

“However, companies also need to actively invest in energy-efficient technologies, increase awareness across all levels of the organization and collaborate with policymakers to fully capitalize on these regulations and drive meaningful progress in sustainability.

“At Schneider Electric, we are dedicated to helping businesses drive the transition to intelligent infrastructure that supports Malaysia’s sustainable development goals. We have identified three important steps - strategize, digitize and decarbonize, with ten associated priorities that help businesses across sectors to bridge their net-zero ambition and action,” added Quah.

-- BERNAMA

 

 

 

 

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