Green Technology Financing Scheme (GTFS) extended for five years with additional RM5 billion

PUTRAJAYA: The government will be extending its Green Technology Financing Scheme (GTFS) for five years with an additional allocation of RM5 billion.
Energy, Green Technology, and Water Minister Datuk Seri Maximus Ongkili said the scheme, dubbed GTFS 2.0, will encourage growth in the green technology sector and make it more competitive.
"GTFS 2.0 is important as it ensures green tech-based projects with potential and competitiveness will receive funding and contribute to the growth of Malaysia's green tech sector," Maximus told a press conference today.
He added that GTFS 2.0 was an improvement on the original scheme introduced in 2010, which was given RM3.5 billion and is supposed to last until December this year.
The original GTFS has thus far provided RM2.96 billion in funding to 272 local green technology entrepreneurs.
Maximus earlier attended the Green Technology and Climate Change Council's first meeting this year, which was chaired by Prime Minister Datuk Seri Najib Abdul Razak.
He said the Green Technology Master Plan (GTMP) was also ratified during the meeting, outlining steps to transform Malaysia into a low carbon growth economy.
Maximus said this is in line with the government's target to reduce Gross Domestic Product (GDP) produced green houses gasses (GHG) by 45% as compared to year 2005.
Leading by example, he said the government will be auditing the buildings of all 24 Ministries for energy usage and then set targets for reducing energy consumption.
Maximus added that the government will also work towards the replacement of normal personal vehicles with electric or hybrid vehicles.
The meeting and the subsequent press conference was also attended by Natural Resources and Environment Minister Datuk Seri Wan Junaidi Tuanku Jaafar.