THE world has less than a decade left to limit global warming to under 2°C against a pre-industrial baseline. In fact, 1.5°C is the ideal limit.
Scientists concluded an increase between 1.5°C and 2°C could mean substantially more poverty, extreme heat, rising sea levels, loss of habitat and important bio-diversity, and sustained drought, which would not only be catastrophic but also irreversible.
It is pertinent that the 12th Malaysia Plan (12MP) includes environmental sustainability as one of the key dimensions as the way forward for national development agenda. This forms the platform for inclusive and meaningful socioeconomic development towards shared prosperity.
There has been progress but there is still much to do in terms of sustainability. Malaysia has made a commendable commitment to reduce its greenhouse gas emissions intensity by 45% by 2030, relative to 2005 levels.
Sustainability is about conduct that safeguards the future of business and society. It is part of Zurich’s commitment to creating a brighter future together with fellow Malaysians. This common purpose unites our people and customers towards a shared vision: an inspiring and optimistic future.
Consumers have high expectations nowadays of products and services; to improve their daily life and contribute to the betterment of society. Leading companies are focusing on generating value by marrying sustainability with innovation capabilities.
Zurich takes climate action seriously. As the first insurer to sign the United Nations Business Ambition for 1.5°C pledge in June 2019, we are aligning our business with climate action for the benefit of our people, partners, customers, and planet.
To this end, we aim to reduce our carbon emissions (CO2e) by setting science-based targets. We are committed to reduce emissions from operations by 50% by 2025 and 70% by 2029, and adopt 100% renewable energy to power operations by end 2022.
As a responsible corporate citizen, we track our CO2e and are one of the early adopters of International Renewable Energy Certificates (iRECs). The amount of CO2e from electricity utilised by Zurich offices in Malaysia is offset by iRECs as part of our pledge and commitment towards the utilisation of 100% renewable power.
More importantly, our initiatives and efforts are to help customers continue everyday life with minimal disruption and distress. For example, Zurich Malaysia mobilises Flood Aid vehicles to help customers sustain their routine and way of life when Mother Nature strikes back.
Our planet is at a climate crossroads now. Scientists have stated ideally temperature rise is capped at 1.5°C and emissions should peak by 2020. Right now, the planet is heading towards a 3°C rise.
Immediate collective action to halt this is paramount. We must act before it is too late. Progress over perfection is much needed. While climate actions are over the long-term, any action today, no matter big or small is certainly better than hesitation or even worse, inaction.
* Junior Cho is the Country Head for Zurich Malaysia.
** The views and opinions expressed in this article are those of the author(s) and do not necessarily reflect the position of Astro AWANI.
AWANI Columnist
Thu Sep 30 2021
ISIS Malaysia's perspective of Budget 2025
An excellent rakyat-centric budget under the overarching principle of a caring and humane economy.
Budget 2025: Record increase in STR, SARA aid initiatives
The government will provide a significant boost to the Sumbangan Tunai Rahmah (STR) and Sumbangan Asas Rahmah (SARA) initiatives next year.
Budget 2025: EPF contributions to be made mandatory for foreign workers – PM Anwar
The government plans to make it compulsory for all non-citizen workers to contribute to the Employees Provident Fund (EPF).
What policies to expect from Indonesia's new President Prabowo
Prabowo will be open to foreign investment, his aide has said, such as by offering investors management of airports and sea ports.
Budget 2025: Govt allocates RM470 mil to empower women's participation in PMKS
The Women's Leadership Apprenticeship Program will be intensified as an effort to produce more female corporate personalities.
Israel sends more troops into north Gaza, deepens raid
Residents of Jabalia in northern Gaza said Israeli tanks had reached the heart of the camp, using heavy air and ground fire.
Indonesia ramps up security ahead of Prabowo's inauguration
Prabowo Subianto will be sworn in as Indonesia's president on Sunday with Vice President-elect, Gibran Rakabuming Raka, also taking office.
Immediate allocation of RM150 mil for local authorities, DID to tackle flash floods
Datuk Seri Anwar Ibrahim said this allocation is intended to address the recent flash floods that hit the capital and several major towns.
Budget 2025: Sabah, Sarawak to continue receiving among highest allocations - PM
Sabah and Sarawak continues to be prioritised under Budget 2025, with allocations of RM6.7 billion and RM5.9 billion respectively.
NFOF will be operational in November 2024 with funding of RM1 bil
PM Anwar Ibrahim said NFOF will support venture capital fund managers to invest in startup companies with RM300 million set aside for 2025.
Minimum wage to increase to RM1,700 effective Feb 1, 2025
The Progressive Wage Policy would be fully enforced next year with an allocation of RM200 million, benefiting 50,000 workers.
Bursa Malaysia ends higher on Budget 2025 optimism
The benchmark index, which opened 1.85 points higher at 1,643.29, moved between 1,641.71 and 1,649.31 throughout the trading session.
Five important aspects relating to people’s lives in Budget 2025 - PM
The focus is on driving the MADANI Economy, speeding reforms, cutting red tape, raising wages, and tackling the cost of living.
Economic outlook: Govt plans to leverage, expand existing city transit system
The expansion aims to provide a more efficient and reliable public transportation network, reduce congestion, and improve accessibility.
Economic outlook: Budget 2025 to lay foundation for a digital-driven economy
The report said Budget 2025 will entail efforts to position Kuala Lumpur as a top 20 global startup hub by 2030 through the KL20 initiative.
Economic outlook: Corruption and lack of accountability hinder economic progress
Special Cabinet Committee on National governance is established to curb corruption, law reforms to modernise outdate regulations, MoF said.
National Wages Consultative Council will be strengthened
The govt will also incentivise hiring women returning from career breaks, offer job matching and improve care services facilities.
Economic outlook: Ensuring 11 years of compulsory education for all children
Budget 2025 will continue prioritising upskilling and retraining initiatives to equip workers with the latest skill sets necessary.
Consolidated public sector projected to record lower surplus of RM41.7 bil 2024
The MoF said the consolidated general government revenue is estimated to increase slightly to RM384.7 billion in 2024.
PM announces substantial Budget 2025 hastening Malaysia to become Asian economic powerhouse
Datuk Seri Anwar Ibrahim said it would create jobs and also tackle financial leakages to enhance public spending efficiency.