National Energy Policy, 2022-2040.

This National Energy Policy for the period 2022-2040 (DTN) is a sectoral document delineating Malaysia's strategic energy direction and underscoring the sector's pivotal role in driving socioeconomic advancement. DTN aims to leverage the energy sector as a catalyst for holistic development while embracing the Progressive Low Carbon Country vision to ensure resilience and readiness for future challenges and opportunities in the energy transition. The Policy's benefits are poised to bolster the nation's economic recovery, fostering sustainable GDP growth and job creation through investments in emerging energy and green economy ventures. DTN signifies the Federal Government's commitment to guide the energy sector towards a greener, more environmentally sustainable future. It advocates for a transition from fossil fuels to renewable and sustainable energy sources, emphasizing demand management enhancements and the promotion of green technologies. Such a transition holds promise not only in mitigating climate change but also in reshaping economic paradigms and fostering social inclusivity, health, and energy security. Moreover, DTN seeks to maintain an attractive investment climate, particularly in key energy subsectors such as upstream oil and gas, by enhancing competitiveness and adherence to environmental, social, and governance (ESG) standards. To realize these objectives, a comprehensive Action Plan has been devised, delineating roles, responsibilities, and targets for various stakeholders. The establishment of the National Energy Council will ensure the efficient and effective execution of holistic planning, policy development, program management, and DTN-related activities.
In greater detail, the Policy aims to achieve macroeconomic resilience, energy supply security, equality, social sustainability, and environmental preservation. This is facilitated through four strategic cores: (1) optimizing energy resources to drive sustainable socioeconomic growth, including enhancing petrochemicals, improving energy demand management, and maximizing the energy sector's value; (2) stimulating economic growth, market opportunities, and cost advantages by leveraging evolving technologies, global trends, and optimizing electricity generation; (3) enhancing the energy sector's environmental sustainability through targeted emission reduction, strategic enablers, and improved carbon footprint tracking to attract international investment; and (4) ensuring fiscal stability by optimizing energy sector finances, maintaining continuous energy supply, rationalizing subsidies, making smart investments, and regulating energy resource supply.