increase renewable energy (RE) to 70% of our country’s total generation capacity by 2050, with the ultimate goal of accomplishing net zero emissions as early as 2050. However, here it is also worth noting that conventional power plants, including currently operating coal plants, will continue to be required in Malaysia at this stage, especially as the government seeks to balance energy security and reliability against energy generation cost considerations. In this context, the existing Imbalance Cost Pass-Through (ICPT) mechanism under the Incentive Based Regulation (IBR) framework will still be in effect to cater for the variability of fuel costs. The NETR plays a crucial role in identifying and prioritising actions across the energy sector, with 10 flagship catalyst projects and initiatives grounded in six Energy Transition (ET) levers: EnergyEfficiency (EE), RE, Hydrogen, Bioenergy, Green Mobility, and Carbon Capture, Utilisation and Storage (CCUS). TNB has been entrusted with leading three of NETR’s flagship projects: Large Scale Solar Parks, Hybrid Hydro-Floating Solar (HHFS), and the Co-firing of Hydrogen and Ammonia. We support other levers through partnerships with the private and public sector. This highlights the collaborative effort needed to combat climate change, pooling expertise and resources from various sectors to achieve shared objectives. I am heartened to see the Management team working to effect change and leading the charge for the ET journey for both the nation and TNB. In 2023, we demonstrated thought leadership through the successful organisation of the Energy Transition Conference in August which gathered local and international experts, policymakers, and industry leaders to discuss and strategise on the future of the energy transition. The conference focused on three critical sectors impact by the ET, namely Power, Transport and cities, with Digitalisation and Data Infrastructure as the key enablers. The conference highlighted the opportunities and insights within each sector, serving