KUALA LUMPUR (July 25): A bill on climate change, expected to be tabled in Parliament next year, aims to enhance environmental sustainability while creating new opportunities for the business sector, said Natural Resources and Environmental Sustainability Minister Nik Nazmi Nik Ahmad.

He noted that this bill could enable businesses to access markets that emphasise sustainability.

“Countries in the European Union and elsewhere have stringent sustainability standards. This bill will help our business sector meet these demands,” he explained.

“Alongside the National Adaptation Plan and the carbon market framework we are developing, this bill represents a significant opportunity for the business sector. We are committed to advancing this initiative, and, insya-Allah, the bill will be tabled next year,” he added.

Nik Nazmi said this in a press conference following a discussion held in conjunction with the Selangor Asean Business Conference (SABC) 2024 at the Kuala Lumpur Convention Centre Thursday.

In addition, Nik Nazmi expressed confidence that the bill, which emphasises pollution control, will simultaneously contribute to disaster mitigation and help lessen the negative impacts on the business sector.

The bill aims to regulate major polluters, including companies within the country. It incorporates both incentive and penalty elements, targeting entities such as companies or agencies rather than individuals.

Nik Nazmi also highlighted that the discussion, co-organised by the Selangor government and Invest Selangor Berhad, provided an excellent platform for discussing sustainability issues related to investment challenges and opportunities in Southeast Asia.

“Today, I outlined the federal government’s efforts in sustainability, particularly in addressing climate change, national pollution and biodiversity,” he said.

“Our primary focus remains on aligning industry and business community agendas with the country’s sustainability goals,” he added.

The session, attended by delegations from countries including China, Singapore and Indonesia, also covered regional development sustainability, Malaysia's chairmanship of Asean next year, and issues such as climate change, pollution and green investment.

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