Net Zero Transition Plan
Position Statement on Thermal Coal Mining
Thermal coal has been Malaysia’s primary energy source for decades, but it remains one of the most GHG emissions-intensive sectors. The National Energy Transition Roadmap (NETR) aims to reinforce Malaysia’s commitment to accelerate the replacement of fossil fuel-intensive energy systems by phasing out existing Coal-fired Power Plants (CFPPs). Cognisant of the importance to reduce GHG emissions from power generation, the Malaysian government has committed to halve the capacity of thermal CFPPs by 2035, and full phase out by 2045, aligning with its broader net zero pledge.
AmBank Group remains committed to responsible financing, supporting the decarbonisation of the energy sector, while exploring opportunities in green technology and sustainable energy financing, to facilitate Malaysia’s Net Zero 2050 commitment. In line with this commitment, AmBank Group will phase out existing exposure to customers in the thermal coal mining sector by 2030, with the exception of supporting the Malaysian government’s energy security needs, if required.