KUALA LUMPUR: Malaysia’s parliament on Thursday (Mar 6) passed legislation intended to help the country become a “global leader” in carbon capture, utilisation and storage – a technology touted as reducing planet-warming emissions.
The Bill provides a legal framework for the so-called Carbon Capture, Utilisation, and Storage (CCUS), which the Southeast Asian nation says could be a key economic driver, worth up to US$250 billion and the source of hundreds of thousands of jobs by 2050.
CCUS seeks to eliminate emissions created by burning fossil fuels for energy and from industrial processes.
The carbon is captured at source and stored permanently in various underground environments.
It has been promoted by emitting sectors including heavy industry and the oil and gas sector, and has backing from the United Nation’s key scientific panel on climate change as a solution for difficult-to-decarbonise industries.
However, some scientists and environmentalists view it as a licence to continue burning fossil fuels and cite doubts over its effectiveness, given its cost and complexity.
Malaysia’s Economy Minister Rafizi Ramli said the Bill would help the country address climate change, while strengthening its position as a “regional frontrunner in low-carbon technologies”.
CCUS offers a “new source of economic growth”, he added.
“This will enable Malaysia to become a global leader in CCUS because, at present, only Norway has successfully implemented it effectively.”
https://www.channelnewsasia.com/sustainability/malaysia-aims-global-leader-carbon-capture-global-warming-climate-change-4981836
