Banks asked to back sustainable energy solutions in Sarawak

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Julaihi delivers his speech on the second day of Saref 3.0. – Photo by Chimon Upon

KUCHING (Sept 7): There is a need for increased support from the banking sector to accelerate the progress of renewable energy initiatives in Sarawak, said Minister of Utility and Telecommunication Datuk Julaihi Narawi.

Speaking at the Sustainability and Renewable Energy Forum (Saref) 3.0 here today, he stressed the vital role of banks sector in advancing sustainable energy solutions and called for concrete support to drive these initiatives forward.

“The Ministry of Utility and Telecommunication is proud to support such an important regional conference right here in Kuching.

“And of course when we give our support, we hope there will be more complete direction in the future among public policy and decision-makers and, in the near future, total and concrete support from the banking sector.

“Because it was quoted yesterday that banking sectors have yet to do their homework, so I hope with Saref 3.0, the banking sector will emphasise the importance of renewable energy in the near future,” Julaihi said in his speech.

Saref 3.0, at the Borneo Convention Centre Kuching (BCCK), aims to facilitate discussions on key mechanisms for energy transition towards a sustainable future.

It covers topics such as ESG financing, the interplay between public policy and energy strategies, green mobility, diversity, equity, and inclusiveness in energy transition.

The forum will culminate with the Energy Leaders Forum, where regional energy figures will discuss strategies to achieve regional net-zero emissions and sustainable commodities.

Julaihi also acknowledged the pivotal role played by Sarawak Energy as an implementing agency in supporting the ministry’s initiatives and programmes, particularly rural electrification and socioeconomic development.

“Sarawak Energy’s investments in renewable hydropower development have been instrumental in achieving these goals and pursuing interconnections to supply electricity to neighbouring regions, including Brunei, Sabah, and Singapore,” he said.