Solution To The Issue Of Environmental Protection: Green Technology In Malaysia

Throughout the years, the government of Malaysia tends to focus more attention on Green Technology, or so-called as “Green Tech”. Green Tech has been in part of the Economic Transformation Programme and were expected to boost the growth of Malaysia economic by 2020. Today, many people starts to have their concern on whether the Green Tech companies able to be continued survive in the era of revolution of technology. Before we go through on reason behind the implementation of Green Tech and what technology tends to substitute or replace the Green Technology, let us have a look on what is Green Tech?

Green Tech can be also known as Clean Tech.

Green Tech is the technology that essentially focus on environmentally friendly based; it is also a technology that, in which its output, involves with the connection on the changes of lifestyle and behavioral to reduce the impacts on the surrounding nature, promote economic growth, and further improve the quality of social welfare.

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Under business term, Green Tech refers to those companies that has relatively involve in environmental friendly activities. Such activities include supply chain processes, manufacturing processes, production processes, research and development processes as well as companies’ internal non-technical activities. Nevertheless, it also can be specified as the vision, mission or goal of a company and it is frequently relative with environmental, sustainability, and governance (ESG) statement.

The 21st century signals a crossroads of the Earth and for its boldest, smartest most insatiable inhabitants, the human race. It is being realized that, in Malaysia, many of the business activities’ accomplishments are double-edged.

Businesses have taken a staggering decision making towards the planet that sustain us. 50 percent of the world’s forests has been cleared, eliminated countless species, dammed mighty rivers, and burned millions of years of stored fossil energy in a century and a half. And the greatest challenge for our civilization will most likely be the steady climb in temperatures over the next century. According to the Global Forest Watch, Malaysia had lost 7.29 million hectares of tree cover, which identically to 25% decrease in tree cover within Malaysia area since 2000. On the other hand, it had emit 784 metric tons of carbon dioxide emission. Among the 13 states in Malaysia, Melaka had the most relative tree cover loss at 43% compared to an average of 27%. The most significant greenhouse gases, Carbon Dioxide and the biggest source is our burning of oil and coal. Due to all of this negative effect, the Malaysia start to change the path toward Green Tech (" Tree cover loss in Malaysia. ," 2018).

In 2012, Malaysia government has offered a guarantees financing scheme to encourage more companies in Malaysia go for green activity process. The scheme was known as Green Technology Financing Scheme (GTFS) and it has successfully to make a lot of companies to participate. In the era of revolution of technology, the trends starts to drive or shift us towards Financial Technology (Fin Tech). Many companies had started R&D (Research and Development) to adopt their business processes toward Fin Tech. It can also be seen that many investors and financial institution tends to invest toward Fin Tech development. According to some researchers study, Fin Tech is creating a new eco system where it has drawn much speculation about their potential to disruption of current ecosystem (Oshodin, Molla, Karanasios, & Ong, 2017). We can observe that more and more start-ups are relatively connected with Fin Tech, other than that, Tech companies have also shift their investment focus towards Fin Tech.

Nevertheless, some companies tend to prefer to form an alliance or partnership with Fin Tech companies internationally.We have AI software which capable in helping human being in solving complexity problem; we have virtual reality (VR), which giving a guidance based on real model as to guide human being to be more efficient in problem solving. Both AI and VR can affect any businesses regardless of what industry the business is. For an example, in pharmaceutical industry, AI help to give a prediction on accuracy of the treatment and prevention strategies. It can also increase the breakthrough in new medical research. AI can drive the farming methods to increase the production and reduce wastage and turn out in more productivity. Car industry such as Volkswagen Group used VR to look for the solution on interactive collaboration in production and logistic as well.