00:00Three, two, and one.
00:11Let me share with you the initiative taken by PETRA
00:15to drive the transition and what to expect in 2025.
00:21Over the next decade,
00:23Malaysia's water services will be restructured
00:26in close collaboration with industrial stakeholders
00:29and the National Water Services Commission, OSPAN,
00:32as well as the Malaysian Water Association.
00:35As of 2023,
00:38urban and rural water supply access coverage
00:42was at 97.1%,
00:44while connected sewerage services
00:47covered 86.9% in major cities.
00:51By the end of next year, 2025,
00:54we aim to achieve 98% coverage of clean water
00:58and sanitation in rural areas.
01:01Integrated Water Resource Management,
01:04or in short IWRM,
01:06has been introduced as a balanced approach
01:10in managing water resources
01:12and their interdependence with environmental ecosystems
01:16for long-term health
01:18by allowing them to regenerate and flourish
01:21while protecting this ecosystem
01:24from overuse and degradation.
01:27IWRM plays a pivotal role
01:30in ensuring environmental sustainability
01:33through balancing water use
01:35from domestic, industrial, agriculture and energy sectors,
01:40adapting to climate change that impacts the environment
01:43to ensure resilience
01:45and addresses water quality issues
01:48through control and protection measures to water sources.
01:52Malaysia's overarching goal
01:54is to guarantee water security for all,
01:57a commitment to be realized
02:00through the adoption of IWRM.
02:03Among these goals
02:05are achieving clean water coverage of 98% in rural areas
02:09and decreasing the non-revenue water rate
02:12to 31% by 2025.
02:16In the energy sector,
02:18decarbonizing the electricity supply industry
02:21is a critical focus
02:23to advance Malaysia's net-zero aspiration,
02:26particularly through the growing electrification
02:30of end-use sectors such as transportation,
02:33industrial processes and household energy consumption.
02:37Consequently, establishing
02:40a clean and reliable electricity grid
02:43is essential to support this transition
02:47and to sustainably meet the national climate
02:50and energy transition goals.
02:53Therefore, through the National Energy Transition Roadmap,
02:57the Government has articulated a strategic ambition
03:00to elevate renewable energy's contribution
03:03to Malaysia's installed power capacity to 70% by 2050,
03:09marking a substantial progression from the present 28%.
03:14This visionary target underscores
03:16a transformative commitment to sustainable energy,
03:20aligning Malaysia's trajectory
03:22with global decarbonization imperatives
03:25and fortifying the nation's pathway
03:27towards a resilient low-carbon future.
03:31Towards this end,
03:33I am proud to share PETRA's commitment
03:35to embracing a brighter and more sustainable energy system
03:40and future with the following actions.
03:43Firstly, we are moving away from coal.
03:47Coal-fired generation will be gradually phased out
03:51and no new coal power plants will be established.
03:54The National Energy Agency has clearly stated
03:57that reducing coal dependency is critical
04:01to limiting global warming
04:03and we are acting on that premise.
04:06Number two, we will continue to enhance grid flexibility
04:11by investing and developing smart grids,
04:14digitalization of the power system
04:17and energy storage system.
04:20By the year 2035,
04:22we aim to increase the grid flexibility by 20%
04:26enabling greater integration of renewable energy sources.
04:31Number three, we aim to stimulate innovation,
04:35attract investments,
04:37and adapt our energy infrastructure
04:39to demands of a rapidly evolving global landscape
04:43that increasingly focuses on ESG,
04:46which is environmental, social, and governance commitments.
04:50Therefore, we have introduced
04:52the Corporate Renewable Energy Scheme,
04:55or better known as CRES,
04:57which encourages corporate consumers
04:59to invest in and source their renewable energy
05:03directly from solar producers
05:05through third-party access grid.
05:08The third-party grid access arrangement.
05:11And four, we'll be spearheading
05:14the effort for regional power grid integration
05:18to further support and enhance energy security
05:21within ASEAN member states.
05:24Further to the regional integrated grid,
05:26it can as well be the economic catalyst
05:29in fostering regional cooperation
05:31through cross-border renewable energy trade.
05:35By sharing excess energy,
05:37we can reduce reliance on fossil fuels
05:40while building integrated ASEAN energy infrastructure.
05:44So as this ends,
05:46we hope that the first green electricity delivery
05:49from the Mated Cross Border Renewable Energy Auction
05:53for Singapore energy importer
05:55under the auspices of Energy Exchange Malaysia, or NEJEM,
05:59shall commence before end of this year.
06:04So ladies and gentlemen,
06:06our strategic plans and commitment
06:09shall be positioning Malaysia to emerge
06:11as a regional leader in climate-resilient nation
06:15and Malaysia expand its reach to the international stage.
06:19Our progress has been acknowledged
06:21by the World Economic Forum,
06:23which ranked Malaysia as the top country in Southeast Asia
06:27on its 2023 Energy Transition Index,
06:32which stands as a testament to our commitment and momentum
06:36in driving sustainable energy transition and transformation.
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