Organiser: ASEAN Business Advisory Council (ASEAN-BAC) Malaysia
Chair: Ms Jukhee Hong, Chair of ASEAN Business Advisory Council (ASEAN-BAC) Green and Sustainable Economy Working Group (GSE WG)

ASEAN-BAC Malaysia spearheaded its first ASEAN-BAC Green and Sustainable Economy Working Group (GSE WG) Meeting on 4 April 2022, chaired by the GSE WG Chair, Ms. Jukhee Hong. The meeting was attended by the members of ASEAN-BAC Malaysia, ASEAN-BAC, Joint Business Councils (JBCs) and staffers.

Ms Jukhee Hong presented on the objectives, themes, priorities, and activities of the GSE WG for this year. She highlighted 8 priority areas including Green Finance, Green Investment, Energy Transitioning, Circular Economy, Green Transportation, Green Tourism, Green Capacity Building and Sustainable Infrastructure Investment of the working group where the working group will seek to provide policy input at the ASEAN level.

Tan Sri Dato’ Dr Munir Majid, Chairman of ASEAN-BAC Malaysia pointed out that there was a lack of guidance on how the industry players can achieve the green and sustainable economy policy objectives, suggesting that the GSE WG to consider on:

  • Providing practical suggestions of such transition
  • Energy Transition pilot projects as demonstrations of the conversion process to assist the industries on the implementation process.

Tan Sri Yong Poh Kon, ASEAN-BAC Malaysia Council Member proposed to redefine the narratives on large plantations from being viewed as deforestation agents to more positively as carbon sinks, and to treat ASEAN as a carbon absorption region, especially in view of the large coverage of forest reserves and plantations in the ASEAN countries. He encouraged for ASEAN to have a wide consensus to establish a mechanism for a carbon absorption support fee for the forests and plantations in ASEAN.

Mr Raja Singham, fellow ASEAN-BAC Malaysia Council Member stressed that education plays an important role in getting the general public and companies to transition to a cleaner energy. He also suggested for the GSE WG to develop guidelines for companies to be recognised as a green company on the ASEAN front.