Malaysia to work on climate action towards greener economy - Najib

Malaysia is to continue working with other developing nations to prove that climate action towards a greener economy would bring about greater opportunities for the people, rather than costs.

Prime Minister Datuk Seri Najib Razak said fast-developing nations, in favour‎ of ambitious action on climate change, are living proof that the economy and environment can together prosper.

"Fast-developing nations are not wedded to the same old ideas and ideologies, like some industrialised nations are. We don't have the same vested interest in the Victorian economy, the same sunk capital that holds us back by constricting the ability to move forward.

"We don't necessarily believe that the best way to generate energy is to set fire to something," he said in his speech at the International New York Times "Energy for Tomorrow" Conference here, today.

He said countries like Malaysia are flexible and fast-moving, seeing new technology as an opportunity, not a threat.

"That's one reason why we are acting on the climate, promoting climate transparency with a new corporate emissions reporting policy, and encouraging more clean vehicles onto our roads, while rationalising subsidies.

"We are also investing in the start-ups and entrepreneurs who will make the next generation of energy technology. We've launched a venture capital‎ fund to finance clean energy project across South East Asia," he added.

Najib also called for green industries to deliver jobs and help Malaysia create a deeper knowledge economy‎ to help young entrepreneurs acquire skills and support their needs.

He said as Asean Chairman for next year, Malaysia would advocate for sustainable growth and climate action, and on this note, would participate in the United Nations (UN) climate change negotiations schedule in Lima, Peru, which is less than two weeks away.

"In 2015, Malaysia will play its part. We are optimistic about securing cleaner energy for tomorrow. It's not just the location of this conference that's appropriate, but the timing as well," he added.

The Prime minister noted that Kuala Lumpur is about to embark on a year of global climate action as the rhythm ahead of the 2015 Paris UN Climate Change Conference, has seen the first signs of looking beyond the dead-end negotiating strategies of the past.

He also acknowledged that the stage was set for a positive outcome in Paris, but to get a deal and ensure it works, government, businesses and people need to be really on board with possibilities of the new energy economy.