Schneider Electric Lauds Green Initiatives in Budget 2014

Schneider Electric believes this will help boost the development of green technology and lifestyle in Malaysia

Kuala Lumpur, 07 November 2013 – Schneider Electric, the global specialist in energy management, applauds the announcement of the Malaysian Green Foundation with a grant of RM15 million in the Budget 2014. The government has also introduced other green initiatives which include investment tax allowance for the purchase of green technology equipment and income tax exemption on the use of green technology services and systems.

“The strong support from the government will cement its position towards a greener country and enable businesses to leverage technology to achieve sustainable development and long term financial gains. This is in line with Schneider Electric’s commitment to help businesses make the most of their energy, says John Atherton, Vice President of Schneider Electric Malaysia IT Business.”

A poll was carried out during Schneider Electric’s Xperience Efficiency event to better understand how Malaysian businesses perceive the importance of “energy efficiency” and “sustainable growth” in Malaysia. Out of the 427 participants who participated in the survey, 50 percent invested in energy efficiency programs in the past 12 months. A remarkable 60 percent say that energy cost savings is the biggest driver that impacts energy management decisions in their respective organisations. Through the poll results, it is found that 42 percent of participants would like to venture into building automation and 35 percent in renewable energy efficiency approaches within the next 5 years. The results showed that the government’s green incentives are coming at a time when businesses have put the energy efficiency agenda high up on their list of priorities.

The Budget 2014 also sees the government to undertake energy audits as well as retrofit Ministry buildings for energy savings. Just recently, the Prime Minister’s Office’s was retrofitted using Schneider Electric’s Building Management System (BMS). The project is expected to achieve up to 30% energy savings.

“Investment tax allowance for the purchase of green technology, services and systems is clearly favorable to businesses. The tax allowance will help businesses achieve sustainable growth and development, and improve on cash flow. And using green technology itself will help reduce carbon emission and the impact on the environment. As such, we support the government’s decision to drive energy efficiency adoption in the country through green technology products and services. We hope to see all the green initiatives in Budget 2014 implemented next year and in the near future to steer Malaysia into a greener country, added Atherton.”