Andrew Chiah Howe Fan, Yuen Yoong Leong, Wing Thye Woo
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The Options in Decarbonization Pathways for Malaysia
Two activities in Malaysia that emit large amounts of CO2 are electricity generation, and iron and steel production. To decarbonize the former, Malaysia should invest in a flexible energy system to overcome the intermittent characteristic of solar energy by influencing the pattern of demand with peak load pricing, increasing energy storage capability, and entering into a regional electricity grid arrangement. Malaysia should respond to the recent large capacity expansion in iron and steel production with blast furnace-basic oxygen furnace (BF-BOF) technology by ending immediately the issuance of new licenses for facilities that use this BF-BOF technology, and speed up the process of adopting of advanced green, near-zero emission technologies (e.g., Hydrogen Breakthrough Ironmaking Technology [HYBRIT]), by applying for foreign technical assistance (e.g., the United Nations Climate Technology Centre and Networks [UN-CTCN]) and for concessionary climate finance under the Paris Agreement. Finally, to be consistent with the 1.5°C pathway for the world, Malaysia should aim commit to achieve peak carbon emission by 2030 and net zero emission by 2050.
期刊介绍:
The journal Asian Economic Papers (AEP) is supported by several prominent institutions, including the Center for Sustainable Development at Columbia University in the United States. This shows that there is a strong emphasis on sustainable development within the journal's scope. Additionally, the Korea Institute for International Economic Policy in South Korea, the UN Sustainable Development Solutions Network (SDSN) in Malaysia, and the Economic Research Institute for ASEAN and East Asia in Indonesia also sponsor AEP. The articles published in AEP focus on conducting thorough and rigorous analyses of significant economic issues pertaining to specific Asian economies or the broader Asian region. The aim is to gain a deeper understanding of these issues and provide innovative solutions. By offering creative solutions to economic challenges, AEP contributes to the discourse and policymaking that impact the Asian economies and region as a whole.