New programme launched to make Asia’s electricity sector green

An investor group has started the Asian utilities engagement programme to make Asia’s electricity sector greener.

GIC Private Limited, Singapore’s sovereign wealth fund, BNP Paribas Asset Management and J.P. Morgan Asset Management are among the 13 investors partaking in the first year of the new initiative. The engagement program aims to collaborate with Asian utilities to reduce their carbon footprint and mitigate the region’s effect on climate change. Five utility companies in Asian region including Malaysia-based Tenaga Nasional Berhad, an electricity utility company, will be the focus of the programme in its first year. The company was chosen as they produce a substantial amount of greenhouse gas (GHG) emissions and also has a large coal-fired power capacity. The investors will collaborate with the for the development of detailed decarbonisation policies, action plans for the short, medium, and long term, as well as a timeframe for completing them.