Malaysia's Green Leap: Unpacking the Latest Sustainability Survey & a Hotel Leading the Charge!

Are Malaysian Businesses Really Going Green? The Latest Scoop!

Hey sustainability champions! Ever wonder if all that talk about "going green" is actually turning into action? Well, Schneider Electric, a global leader in energy management and automation, just dropped their annual Green Impact Gap Survey results for Malaysia, and it's got some fascinating insights! Partnering with Milieu Insight, this survey dives deep into whether Malaysian companies are truly walking the talk when it comes to sustainable business practices. The big reveal? We're on a steady trajectory – but there's still work to be done!

The Numbers Are In: Progress & The Persistent Gap

So, what did the 500 Malaysian business leaders surveyed say? The 2024 results are encouraging! A whopping 93% of Malaysian companies reported that they've set sustainability goals. Even better, 45% have successfully turned those goals into actionable strategies! Compared to last year, the gap between intention and action is stable, with less than a 5% variance. This means we're making consistent progress, even if the leap from ambition to full implementation is a journey.

Malaysia's Green Vision: A National Commitment

Eugene Quah, Country President of Schneider Electric Malaysia, highlighted how Malaysia is truly stepping up its game on the global sustainability stage. "In Malaysia, that future is already taking shape," he noted. From the National Sustainability Reporting Framework to mandatory ESG disclosures for listed companies, Malaysia is aligning with international standards like IFRS, pushing for greater transparency and accountability. This national drive is clearly influencing businesses, creating a fertile ground for sustainable transformation.

Hitting the Roadblocks: What's Holding Us Back?

While the progress is real, the survey also pinpointed some key speed bumps on the road to a greener future. Business leaders cited several barriers:

• Economic uncertainties (56%): The current financial climate makes big sustainability investments tricky.

• Internal budget constraints (47%): Green initiatives often require upfront capital.

• Poor incentives (46%): More motivation is needed from external sources.

• Lack of priority (40%): Sustainability sometimes takes a backseat to other business objectives.

• Regulatory and policy issues (35%): Clearer, more supportive frameworks are still needed.

These insights are crucial for understanding where to focus efforts to narrow that "Green Impact Gap"!

Real Estate: Time to Go Proactive!

Schneider Electric isn't just pointing out problems; they're offering solutions, especially for the real estate sector. They've identified three critical areas for decisive action:

1. Shift from Reactive to Proactive: Climate change is here, and businesses need to move beyond just reacting. Leveraging digital tools, predictive analytics, and integrated energy management systems can help monitor risks, forecast disruptions, and optimize energy usage, leading to reduced carbon emissions and cost savings. Smart!

2. Bolster Energy Security: Diversified and resilient energy strategies are a must. Think renewables, microgrids, and smart energy management to future-proof sustainability efforts.

3. Overcome Resource Hurdles: Schneider Electric is stepping up to help businesses comply with the Energy Efficiency and Conservation Act (EECA). As Eugene Quah puts it, they "work closely with our partners to align strategy with action, demonstrate quick wins, and embed sustainability into the core of business operations." When sustainability becomes a strategic priority, it drives long-term value!

Expert Voices: Digitalization Leading the Way!

To dive deeper into these findings, a powerful panel discussion titled "Narrowing the Green IMPACT Gap: Digitalisation for Greater Energy Efficiency in Buildings" brought together some brilliant minds. Experts like Amutha Socklingam (Ministry of Energy Transition and Water Transformation), Ir. Ts. Zulkiflee Umar (Energy Commission Malaysia), Wong Wen Chet (Millennium Welt Land Sdn Bhd), and Jackson Seng (Schneider Electric) explored how digitalization is the key to accelerating energy efficiency in buildings. Actionable insights for everyone in the industry!

Tribeca Serviced Hotel: A Real-Life Green Blueprint!

And guess what? The survey launch and discussion were held at a living example of sustainable transformation: the Tribeca Serviced Hotel by Millennium! This smart building is a fantastic showcase of reduced energy consumption, a lower carbon footprint, and enhanced tenant comfort. Tribeca is truly leading the way, guided by Schneider Electric’s 3-step approach and supported by their EcoXpert partner, Advance Industrial Solutions Sdn Bhd.

Here's a peek at their impressive journey:

• STRATEGIZE: They started with a thorough energy audit, discovering that air conditioning was their biggest energy guzzler, followed by lighting and plug loads. Knowing is half the battle!

• DIGITIZE: Tribeca has installed the EcoStruxure Power Monitoring Expert (PME) system, giving them real-time insights into energy consumption patterns across HVAC, lighting, common areas, and tenant usage. They're establishing a baseline, with Phase 1 focusing on main incomers. Data-driven decisions, here we come!

• DECARBONIZE: Looking ahead, Tribeca's plan is bold! They'll benchmark energy use, set a 3% reduction target in the first year (hello, lighting retrofits and HVAC optimization!), implement decarbonization measures over 6 to 18 months (think rooftop solar and carbon offsetting!), and continuously monitor progress with PME analytics.

Inspiring a Greener Tomorrow!

Wong Wen Chet, Executive Director of Millennium Welt Land Sdn Bhd, perfectly summed it up: "Our journey toward decarbonization reflects what’s possible when innovation meets commitment. We hope our efforts will inspire other building owners and real estate players to take bold steps toward a greener, more energy-efficient future.”