Page 18 - TNB_Ebook_ESG_2024

https://www.tnb.com.my/sustainability/esg-stories/

Carbon Management

Accelerating the development of Electric Vehicles (EVs) stands These initiatives are aligned with the Environment, Social and
as one of the key initiatives outlined in the NETR, with specific Governance (ESG) principles and support the three key pillars
targets: of TNB’s Energy Transition Plan: i.e., Deliver Clean Generation;
Develop an Energy Transition Network; and Deliver Dynamic
Energy Solutions to empower cross-sector electrification
while enabling customer participation. TNB is taking a
proactive approach to drive Malaysia’s energy transition,
with an investment commitment of RM90 million from 2022
to 2025 to bolster the BEV ecosystem. Together with our
partners, we aim to accelerate the adoption of EVs, reduce
emissions and create a sustainable future for generations to
- xEV: Electrified vehicles, including plug-in hybrid electric vehicles (PHEV). come.
- 4W: four-wheel vehicles.
- 2W: two-wheel vehicles.
TNB Fleet Electrification Targets by 2030
Electrification of the transport sector holds immense
potential to clean our air and water, protect public health,
and uplift the most vulnerable communities amidst the
climate crisis. Despite xEV being the natural evolution for
the transportation industry, challenges such as affordability,
charging infrastructure, EV-friendly policies,and the local
xEV automotive and auto component industry hinder
widespread adoption in Malaysia.

The encouraging news is that with the right blend of
government policies, incentives, and industry collaboration,
these barriers can be overcome. At TNB, we stand ready to
work closely with the Malaysian government to aid in the
development and expansion of the EV ecosystem. We have
identified four (4) keyfocus areas to support the proliferation
of battery-electric vehicles (BEV) in Malaysia’s automotive
landscape:

Carbon Management Water Management Biodiversity & Land Use Opportunities in RE Toxic Emissions & Waste
Human Capital Development Health & Safety Labour Rights Supply Chain Management Community Relations Corporate Governance