KUCHING: Sarawak will embark on a sustainable blue economy by taking a holistic approach to policies and management to realise the ocean-based economics.
Premier Datuk Patinggi Tan Sri Abang Johari Tun Openg said in line with this, the state government has allocated RM70 million to deploy a total of 16,800 reef balls at strategic places along the coastline of Sarawak from Tanjung Datu to Lawas.
“Following the success of our initial initiative, the Sarawak government will further allocate about RM30 million to implement Phase 2 of reef balls deployment,” he said.
He was delivering his keynote address at the Asean Education Cities Conference (AECC) 2023 held at Sunway University in Kuala Lumpur on today (Feb 11).
Abang Johari, who is also the Finance and New Economy Minister stressed it was imperative that the state government adopt the right tools and approaches to incentivise ‘Sustainable Blue Economies’ to realise its full potential.
“Sustainable development and utilisation of ocean and coastal benefits within planetary boundaries require a multi-faceted approach that involves balancing economic, social, and environmental considerations.
“How do we sustainably develop and utilise ocean and coastal benefits within planetary boundaries, avoiding past mistakes from land-based development?
“We need to find the right balance by maximising environmental, economic and social benefits based on ocean-based sustainable development,” he pointed out.
On Sarawak’s green economy initiatives, he said, it is a response to the challenges posed by climate change and the need to develop a lush landscape of sustainable opportunity and environmental protection, where nature and industry seamlessly intertwine through sustainable industries, such as renewable energy, eco-tourism, and sustainable agriculture.
“We recognise that economic growth is important, and we are committed to promoting ‘green’ opportunities that will drive Gross Domestic Product (GDP) growth while also reducing the impact on the environment.
“At the same time, every aspect of the Sarawak Green Economy is dedicated to promoting economic growth while also preserving the delicate balance of its natural resources,” he said.
Besides that, one of the key components of the Sarawak Green Economy, he said, is the development of a hydrogen economy, which will leverage low carbon opportunities in nature-based solutions and technology to drive economic growth while reducing its impact on the environment.
Sarawak, he said, has vast potentials and opportunities in nature-based solutions, particularly the forestry sector which is expected to generate a revenue approximately RM700 million for the state.
“This reinforces Sarawak’s aspiration to not only enhance its forests to produce biomass energy and the role of forests as carbon sinks but to promote biodiversity as a natural capital for competitive advantage in the pursuit of green growth.
“This is essentially a concept of the ‘Bioeconomy’ model that has the potential to capitalise on and preserve social and biological diversity, while valuing the knowledge and ways of life of the population and ensuring an inclusive distribution of benefits,” he said.
Sarawak’s Green Economy, he said, will also integrate circular economy approaches to produce high-value-added products and energy sources to offset its associated carbon footprint.
