Sabah Energy Corporation’s CEO, Adzmir Abdul Rahman, was invited as one of the speakers for the “Malaysia’s Energy Transition Pathways” session during the recent Energy Asia conference.
Adzmir highlighted the importance of the Energy Trilemma Balance and Just Energy transition in achieving the goal of carbon neutrality by 2050.
Adzmir opined that Malaysia is facing the energy trilemma, the challenge of balancing the reliability of energy supply with affordability for the end user while also addressing the looming climate crisis, which complicates the dynamics of energy supply.
Fossil fuels are at the heart of the climate problem in Malaysia. As the country aims to reach net-zero carbon by 2050, fossil fuels still dominate its total primary energy supply, approximately 96%.
Therefore, Adzmir also said that while we need to accelerate the pace of the energy transition through well-planned strategies, the transition should be gradual enough to avoid disruptions to energy security and provide a smooth transition for consumers and the industry. This is where the government can play an important role in setting workable policies and regulatory frameworks to facilitate a smooth energy transition.
Adzmir then gives insight into the concept of a Just Energy transition in shifting from fossil fuels to low or zero-carbon sources fairly and equitably. Social equity and participatory decision-making are the two key elements within the framework of a Just Energy transition that need to be upheld in achieving inclusiveness, energy accessibility, and benefits for all members of society.
He also stressed that the race toward carbon neutrality should not create clear winners or losers. While winners reap the benefits of the energy transition, addressing the needs of those facing high energy costs and reliability issues is essential, ensuring that no one is left behind.
During the discussion, Adzmir was also joined by Dato’ Nor Azmie bin Diron, Secretary-General, Ministry of Economy, Malaysia, Datu Haji Sharbini Suhaili, Group CEO, Sarawak Energy, Dr. Mohd Yusoff Sulaiman, President & CEO of MIGHT, and Jenny Koo, Director, Oil Markets, Midstream & Downstream Advisory of S&P Global Commodity Insights, who chaired the session.