Malaysia launches $125m clean energy fund
Published on Sep 24, 2013
1:07 AM
LONDON
(REUTERS)
-
Malaysia
and
Japan
-
based
Asian
Energy
Investments
Pte
Ltd
have
launched
a
US$100
million
(S$125
million)
venture
capital
fund
to
invest
in
clean
energy
projects
in
South
East
Asia.
Malaysia's
Prime
Minister
Najib
Razak
announced
the
launch
of
the
fund
on
Monday
at
a
meeting
of
sustainable
development
experts
in
San
Francisco
in
the
United
States.
Malaysian
fund
management
company
Putra
Eco
Ventures
Inc
wi
ll
channel
the
fund's
investments
into
small
and
medium
-
sized
companies
and
technologies
such
as
wind,
solar
or
tidal
energy.
It
will
also
help
find
cheaper
biodiesel
feedstocks
for
Malaysian
biodiesel
plants
which
have
been
idled
because
they
rely
on
expe
nsive
crude
palm
oil.
"We
hope
to
(...)
further
transform
Malaysia
into
a
knowledge
-
based,
innovation
-
driven
economy
that
is
environmentally
friendly
while
aiming
to
join
the
ranks
of
developed
nations,"
Prime
Minister
Razak
said.
Separately
on
Monday,
Gen
eral
Electric,
Malaysia's
largest
utility
Tenaga
Nasional
Berhad
and
government
agency
GreenTech
Malaysia
agreed
to
collaborate
on
developing
a
Malaysian
smart
grid.
A
smart
grid
is
a
modernised
electricity
device
which
uses
information
technology
to
colle
ct
data
about
the
energy
use
of
consumers
and
suppliers
to
improve
the
efficiency
of
electricity
production
and
reduce
energy
consumption.
Malaysia
aims
to
reduce
its
carbon
emissions
by
40
per
cent
by
2020
from
2005
levels
and
increase
its
renewable
energ
y
capacity
to
4,000
megawatts
by
2030.
Airline industry calls for CO2 emissions plan
Published on Sep 24, 2013
6:06 AM
An
Airbus
A320
airplane
takes
off
from
a
runway
at
Ronald
Reagan
Washington
National
Airport
in
Arlington,
Virginia,
Sept
23,
2013.
The
airline
industry's
mouthpiece
called
Monday
for
uniform
global
measures
by
2020
to
curb
all
aircrafts'
carbon
emissions,
warning
that
a
patchwork
of
competing
proposals
could
emerge
otherwise.
--
PHOTO:
AFP
MONTREAL
(AFP)
-
The
airline
industry's
mouthpiece
called
on
Monday
for
uniform
global
measures
by
2020
to
curb
all
aircrafts'
carbon
emissions,
warning
that
a
patchwork
of
competing
proposals
could
emerge
otherwise.
And
if
that
happens,
it
could
lead
to
a
proliferation
of
trade
wars,
said
Inte
rnational
Air
Transport
Association
general
manager
Tony
Tyler
said
at
a
meeting
of
the
international
industry
trade
group
of
airlines.
Tyler
said
he
remains
"optimistic"
that
IATA
member
states
will
come
together
on
a
plan.
"We
think
that
a
global
mandato
ry
carbon
offsetting
scheme
would
the
simplest,
easiest
in
the
end
to
implement,"
he
said.
"We
have
seven
years
to
do
it,"
he
added.
"It's
achievable."
But
if
IATA
member
nations
fail
to
reach
a
consensus
on
what
a
global
airline
carbon
tax
might
look
like
,
he
warned,
"We
could
well
see
a
proliferation
of
regional
schemes
of
taxes,
charges,
different
ways
of
penalizing
the
industry.
"This
could
lead
to
overlapping,
duplicating,
sometimes
conflicting
schemes
under
which
we
may
be
paying
twice
for
the
same
em
ission."
Several
nations
have
already
balked
at
a
global
emissions
scheme
for
airlines,
including
the
United
States
and
India.
Late
last
year,
after
running
into
a
storm
of
criticism,
the
European
Union
suspended
its
CO2
Emissions
Trading
Scheme
(ETS)
for
intercontinental
flights
for
2013,
saying
it
wanted
to
give
all
sides
more
time
to
reach
a
global
accord.
Under
the
ETS,
airlines
flying
in
EU
airspace
were
required
to
buy
pollution
credits
to
cover
15
per
cent
of
their
CO2
emissions
for
the
entire
flight
,
wherever
it
originated.
A
European
source
said
earlier
this
month
that
the
EU
is
ready
to
compromise
over
its
tax
if
opponents,
led
by
the
United
States
and
China,
apply
a
similar
levy
by
2016.
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