RAM Conference 2024: Sarawak leads the way in sustainability

Published on 03 Dec 2024.

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Kuching, Sarawak – The RAM Conference, “Advancing an Inclusive & Sustainable Future: Spotlight on Sarawak” on 19 November 2024 was a resounding success, bringing together nearly 300 government officials, thought leaders, policymakers, industry experts and corporate representatives. Supported by the Sarawak government and the Development Bank of Sarawak Berhad, the conference showcased Sarawak’s unwavering commitment to sustainability and inclusive economic development.

Sarawak Premier Datuk Patinggi Tan Sri (Dr) Abang Haji Abdul Rahman Zohari bin Tun Datuk Abang Haji Openg, in delivering the keynote address, reaffirmed the state’s ambitious targets to achieve carbon neutrality by 2030 and net zero by 2050. The Premier highlighted Sarawak’s strategic investments in hydropower, green hydrogen, and carbon capture technologies as pivotal to these goals. “These projects demand substantial investments and cutting-edge technology to meet the net zero carbon target by 2050. While the initial costs of green technology are high, they are expected to decrease over time with continued research and innovation. I urge the banking sector to support climate-related projects and, together, we will create a sustainable and inclusive future for all,” he said.

The conference’s opening address by YB Datuk Dr Hazland Abang Hipni, Sarawak Deputy Minister for Energy and Environmental Sustainability, outlined the state’s vision under its post-COVID-19 Development Strategy 2030. Sarawak Deputy State Secretary (Economic Planning & Development), YBhg Dato Sri Dr Muhammad Abdullah Haji Zaidel, in a special address thereafter emphasised the state’s balanced approach to economic growth and environmental stewardship under the “Sarawak’s Economic Development – Sustainable and Inclusive” theme.

Throughout the day, speakers and panellists explored a wide range of topics critical to advancing the green economy. Discussions delved into transition financing mechanisms, the triple bottom line, the potential of carbon markets and green hydrogen, and transformative technologies that drive sustainable growth. Panellists also examined emerging trends in sustainable finance highlighting the vital role of partnerships and inclusivity in meeting low-carbon goals. These discussions collectively underscored the importance of collaboration and innovation in accelerating not just Sarawak’s green transformation but Malaysia’s.

A standout moment of the conference was the presentation of the RAM Sustainability Awards, celebrating outstanding contributions to sustainability. Through RAM’s proprietary R1ESGo® framework, nominees are assessed for their environmental, social and governance practices against best-in-class standards. Press Metal Aluminium Holdings Berhad and Sarawak Energy Berhad earned the Platinum Award while Sarawak Oil Palms Berhad received the Silver Award. The Sarawak Premier was honoured with the RAM Sustainability Steward of the Year Award, recognising his visionary leadership in advancing Sarawak’s green economy agenda. 

As the conference concluded, speakers and participants reiterated the critical need for continued collaboration, bold actions and innovative solutions to achieve shared sustainability goals. RAM Group has been a proud partner of Sarawak and its local corporations since 1993, having rated close to RM66 billion of debt/sukuk programmes. The Group stands ready to support more Sarawak-based companies in their endeavours towards sustainable development. 

 

Media contact
Sakinah Arifin
(603) 3385 2500
sakinah@ram.com.my    

About RAM Rating Services Berhad (RAM Ratings)

Established in 1990, RAM Ratings is a leading credit rating agency registered under the Securities Commission’s Guidelines on Credit Rating Agencies. In addition to the provision of credit ratings for corporate bonds and sukuk and their issuers, RAM Ratings also provides research and publications on Islamic finance, fixed income and macro-economic and industry analysis as well as data analytics relating to credit risk, counterparty assessments and other related domains. 

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