KUALA LUMPUR, 30/6/2021 – In an effort to support the country’s transition to a low carbon economy and national ambition to increase the renewable energy share to 31% of the country’s power mix by 2025, Hong Leong Bank (“HLB” or the “Bank”) recently hosted its second virtual ‘Sustainability Roundtable’ on Renewable Energy (Solar): Industry Outlook & Preparing for a Sustainable Future. The roundtable underscored renewable energy, especially solar, as both a commercially viable and environmentally positive investment, in which SMEs and Corporates should consider to future-proof their operations.
Solar power is the fastest-growing renewable power source in the world and, in Malaysia. Its uptake and Investment have been ramping up over the past few years with initiatives such as green technology incentives and enhanced Net Energy Metering (“NEM”) programs. With solar power systems primarily driving the country’s renewable energy goals, there are an abundant of opportunities for corporates and SMEs to pursue in building a more sustainable business.
For SMEs who are just starting out to integrate more Environmental, Social and Governance (“ESG”) considerations into their operations, renewable energy adoption can prove to be a daunting task. With many schemes and programs for solar power options, over 100 solar power service providers and a significant amount of investment needed, these can become barriers for businesses to take the step to use renewable energy for power generation.