IOI Properties group chief operating officer Teh Chin Guan.
PUTRAJAYA: IOI Properties Group Bhd
’s (IOIProp) decision to install solar panels at its mall, IOI City Mall in Putrajaya was not only a decision made for the environment but one that makes business sense as well.
Group chief operating officer Teh Chin Guan told StarBiz that from a business aspect, embracing sustainability made complete sense because going green has become an increasingly important aspect in how businesses are run.
“We are not only helping the environment and saving the planet, but economically, installing these solar panels is very viable.
“We are talking about a very short period for return on investment, perhaps less than five years,” he said.
The 4,005 kilowatt-peak solar photovoltaic system is expected to generate 19,279 gigajoule of energy with expected carbon emissions avoidance of 4,059.34 tCO2 annually.
The solar panels were installed by Tera Sdn Bhd, who was appointed this year in January to house, install and maintain the project for the giant developer.
Teh said Phase 1 of the mall opened 10 years ago and had successfully installed solar panels, which have run for the last six years.
“Phase 2 of the mall opened two years ago. Together, both phases will add up to seven megawatts.
“We are in the middle of planning and installing solar panels for our other two malls, IOI Mall Puchong and IOI Mall Kulai. We expect both to be up and running in a year’s time,” he said.
The mall was also the first shopping mall in Malaysia to be assessed by Malaysia Green Building Council for its Carbon Score, rated 44% towards zero-carbon building.
He said he would encourage other mall operators to follow suit, as it will benefit not only the environment but the operators as well.
On its green initiatives, Teh said solar panels were not the only effort the group had set in place.
“The mall stores chilled water that is used for the air conditioning systems.
“This requires electricity so one of the things we do is chill the water during off-peak hours so we’re not competing with everyone else for power, as this will only result in more fuel being burnt,” he noted.
According to Teh, the group is strategically investing in solar energy generation for properties within its portfolio, including sales galleria, retail malls, office towers and landed residential products.
“These investments contribute significantly to overall emission reductions towards our low carbon objectives.
“We are dedicated to designing sustainable homes and commercial buildings that prioritise green features and minimise environmental impact,” he said.
Simultaneously, the group also officially launched its IOI Sustain Roadmap 2030 yesterday, a blueprint designed to drive sustainable progress across all facets of the group’s operations.
Teh said the blueprint outlines 12 strategic pillars to address climate change, biodiversity, waste management, sustainable finance, supply chain management, employee well-being as well as sustainability risks and opportunities.
Meanwhile, Natural Resources and Environment Sustainability Minister Nik Nazmi Nik Ahmad said Malaysia is preparing a more ambitious Nationally Determined Contribution target, which is expected to be completed in 2025.
“The National Climate Change Action Council chaired by the Prime Minister in June agreed to confirm the country’s aspirations to achieve net-zero carbon emissions by 2050, and not as early as 2050,” he said.
He added his ministry is currently developing the National Adaptation Plan (NAP) through the Green Climate Fund in collaboration with local and foreign agencies.
NAP will focus on adaptation strategies for public concerns including water resources, agriculture, food security, infrastructure, energy, biodiversity, and public health.
“We recognise that while we want to talk about mitigating and reducing our greenhouse gas emissions, we are already crossing the threshold of 1.5 degrees Celsius.
“We are already witnessing the impact of climate change.
“Today, we have villages that are being swallowed by the sea on the East Coast, we are seeing seawater in the drains in Klang, it is all real,” he said.
On another note, he said while Malaysia has one of the most diverse and colourful flora and fauna, the country does not have a national biodiversity centre.
“We need to have a national centre so that we can showcase our biodiversity.
“So, I am pleased to report that the desire to establish a Malaysian biodiversity centre and natural history museum is increasingly becoming a reality,” he said.
“The government has acknowledged this, and during a town hall session in July this year, more than 30 local universities and research institutions expressed strong support for the establishment of the biodiversity centre and natural history museum.”
