In the Shared Prosperity Vision 2030 (SPV) policy document, Green Economy is a key economic growth area that emphasises low-carbon activities as well as effective and inclusive sources.
The green economy encompasses activities such as green buildings, sustainable transportation and mobility, food sovereignty and security, energy and maritime, plastic substitute products, smart and sustainable cities, sustainable coastal development, environmental preservation and rehabilitation, climate-adapted technology and organic farming.
Green economy also refers to the creation of a circular economy that is capable of operating without emitting waste.
The SPV 2030 complements existing policies such as the Green Technology Master Plan 2017-2030, Malaysia’s Roadmap towards Zero Disposable Plastics 2018-2030, National Renewable Energy Policy, and the National Low Carbon Cities Framework 2017.
Together, these policies set Malaysia’s green economy trajectory as part of the country’s goal of achieving sustainability by 2030. Sustainable Malaysia’s green growth goals include:
● the green economy contributing RM100 billion to Gross Domestic Product (GDP);
● creating 222,000 green jobs;
● registering 50,000 green products and services; and
● government green procurement at 100% of GDP.
There are a wide variety of tax incentives across various green activities, including Renewable Energy (RE), Electric Vehicles, Waste Management, and Energy Efficiency projects:
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