KUALA LUMPUR, Feb 8 — Efforts towards achieving a complete transition from fossil fuels in the energy system, as outlined in the UAE Consensus, should not solely rely on developing nations like Malaysia, said Natural Resources and Environmental Sustainability Minister Nik Nazmi Nik Ahmad.

Instead, he emphasised the need for a global concerted effort, taking into account the economic capacities of developing nations.

"We must transition away from all fossil fuels, there is no dispute about it. However, it needs to be done justly,” he told a press conference after officiating the post-28th Conference of the Parties to the UN Framework Convention on Climate Change (COP28) and National Climate Change Bill dialogue session here, today.

The UAE Consensus, established during COP28 in Dubai from November 30 to December 12 last year, called for all parties to fully transition away from fossil fuels to help meet the target of limiting global temperature rise to 1.5°C above pre-industrial levels.

Nik Nazmi highlighted Malaysia’s progress during the summit, with the Malaysia Pavilion serving as a hub for collaboration resulting in 17 memoranda of understanding and potential business leads worth US$9 billion (RM43 billion).

Earlier in his keynote address commenting on the implications of COP28, Nik Nazmi stressed the need for innovation, sustainability, and economic prosperity to coexist as Malaysia pursues its path towards a high-value, high-knowledge, and high-wage economy.

He also underscored the ongoing drafting of the National Climate Change Bill, stating that insights were being gathered from various stakeholders including corporate, private, and civil society sectors.

The aim is to introduce a comprehensive law that consolidates all legislation and policies related to climate change.

"We are applying a whole-of-nation approach in developing this bill to ensure its holistic nature while considering the concerns and inputs of all stakeholders involved. We have identified the challenges ahead and are optimistic that the draft will be ready next year,” he added.

The dialogue session aimed to gain insights into the National Climate Change Bill’s development and the challenges involved. — Bernama