Malaysia’s Employees Provident Fund (EPF) is seeking renewable energy investment opportunities in the state of Sarawak as it looks to achieve a portfolio that is fully compliant with environmental, social and governance criteria within six years.
A report posted on the website of the Sarawak government’s public communications unit quotes Ahmad Zulqarnain Onn, chief executive officer of Malaysia’s largest pension fund, describing the state as “a centre for renewable energy in Southeast Asia”.
Speaking during a visit to the east Malaysian state on August 12, the EPF chief says the trip was to learn about Sarawak’s strategies, especially regarding investment potential in renewable energy sector, and to understand the state government’s strategies and policies.
“Sarawak, as a centre for renewable energy in Southeast Asia, is indeed very prominent in hydro, solar and floating solar energy. There is a lot of potential that will require significant investment. From our perspective, we want to reach out to explore how we can participate in new investments in Sarawak,” he says.
Three years ago, the pension fund published a climate change policy laying out its aim to have a fully ESG-compliant portfolio by 2030 and to achieve a climate neutral portfolio by 2050.
The EPF manages the retirement savings of private sector employees and the self-employed, with 1.19 trillion ringgit (US$263 billion) of assets under management as of end-March.