December 2022. Let's cut to the chase: In 2019, the energy sector remained the largest contributor of emissions where it accounted for 78% of total emissions.
Without getting into too much detail, the area of interest here is related to fuel combustion activities which in turn is broken into further sub-sectors such as the Energy Industry , Manufacturing and Construction and Transportation . Our energy industries accounted for 50.80% of emissions within the energy sector.
Context matters here: we know where the problem is. Our government is reporting it to the UN in its own voluntary reports, prepared and presented by the Ministry of Natural Resources, Environment and Climate Change. And yet there is nothing that addresses our energy sector in Budget 2023. A search for the term 'energy' in the Minster of Finance's speech returns only 3 instances of the word. And none of them are referring to the energy industry.
The 2023 budget features a total allocation of RM388.1 billion. Zero ringgit appears to have been allocated directly to address our energy sector. One report estimates that we will need in cumulative investments, mainly in the energy sector, representing 0.8% of the gross domestic product every year until 2050 to meet our net-zero targets.