INGENIEUR
INGENIEUR
in to recharge . They self-charge via the regenerative braking charging of the battery while driving , enhancing fuel efficiency .
Malaysia has been taking steps to promote EVs with Environmental , Social , and Governance ( ESG ) aspects in mind .
ENVIRONMENT
The widespread adoption of electric vehicles is primarily driven by their ability to significantly decrease carbon emissions . Unlike internal combustion engine vehicles which are reliant on fossil fuels , electric vehicles operate on electricity , thus minimising direct emissions . The shift from internal combustion engines to electric motors enables the transportation sector to contribute tremendously to meeting Malaysia ’ s ambitious climate objectives , as outlined in global accords like the Paris Agreement . Shifts in fuel preferences are anticipated , reducing the need for petroleum products while boosting electricity demand . These changes are likely to impact the primary energy mix and play a significant role in improving the environmental sustainability of the energy sector . EVs ’ environmental impact is further enhanced when powered by renewable energy sources . Their integration with renewable energy like solar or wind power contributes to a cleaner and more sustainable energy ecosystem . Embracing electric vehicles allows societies to diminish their carbon footprint , combat climate change , and strive for a cleaner , healthier environment . With emissions absent from the tailpipe , EVs substantially mitigate greenhouse gases and air pollution , and reduce reliance on fossil fuels .
With advances in EV technology , there is a shift towards more efficient battery use , leading to reduced resource consumption and waste . This supports resource conservation and promotes the development of sustainable materials and manufacturing processes .
SOCIAL
Electric vehicles yield positive social impacts as they aid in enhancing urban air quality and fostering a healthier environment within cities , leading to a reduction in chronic respiratory diseases and associated medical costs . Widespread adoption of electric vehicles can enhance urban transportation systems , alleviate congestion during peak public transit hours , diminish stress while driving , lower the use of car horns and reduce the number of aggressive drivers on the road . In this respect , the integration of electric vehicles aids in noise reduction , fostering quieter and more habitable urban settings .
The expansion of the electric vehicle industry generates job opportunities and propels economic growth . The shift towards EV manufacturing , the establishment of charging infrastructure , and the development of associated services stimulate job creation and economic development . Notably , the rising demand for EVs has catalysed investments in manufacturing , research and development , and infrastructure deployment . This positive social impact contributes to the overall well-being of communities and fosters inclusive prosperity . These investments and the creation of job opportunities contribute significantly to local economies , nurturing inclusive prosperity and bolstering economic resilience .
GOVERNANCE
Regarding governance , the electric vehicle industry can influence corporate operations positively , requiring firms to prioritise decisions aligning with sustainable business models and corporate social responsibility . This empowers investors and consumers to back environmentally and socially responsible companies . Consequently , electric vehicles are acknowledged as an ecofriendly alternative with positive impacts on the environment , society , and governance within an ESG framework .
ESG considerations hold pivotal importance within the corporate governance practices of the electric vehicle industry . Embracing electric vehicles and nurturing the growth of this industry allow stakeholders to actively propel the transition towards a more sustainable future . Collaborative efforts among Governments , businesses , and individuals are imperative to tackle challenges and capitalise on opportunities presented by
22 VOL 97 JANUARY - MARCH 2024