News / #Carbon capture, use and storage
The environmental watchdog published analysis warning that there is a "wide trend" of carbon capture, use and storage initiatives in Malaysia linked to fossil fuel expansion. It is one of 19 organisations backing a memorandum to the Senate calling for a controversial CCUS bill to be stopped.
The bill was passed just two days after being tabled in Parliament, despite concerns about inadequate environmental safeguards and high public costs. The government argued that the speed was necessary to secure long-term foreign imports of carbon dioxide.
As Asia Pacific sees its first net-zero banking alliance exits, the Singapore lender looks to draw up decarbonisation pathways for two more sectors and has clarified what activities count as transition financing.
Climate timelines are not set by elections or cost curves, reminds the country’s ex-central banker Ravi Menon. But he cautioned that in the short term, political headwinds and the US climate retreat could impact investment decisions.
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