Green Technology for Disaster Risk Reduction

Malaysia launched the National Green Technology Policy in 2009 that emphasised for Malaysia to go green for entrepreneurs, industrialists, inventors and consumers, citing global concerns to adopt and embrace sustainable and renewable best practices. The green technology strategy would achieve the objective of reducing total carbon emissions by 15% and total emissions per GDP by 40% by the year 2020 compared to 2005 levels and catalyzing Malaysia's capability and capacity for innovation in green technology development. The paper highlights an overview of national green technology policy and disaster risk reduction. It also attempts to provide a connection of green technology (energy efficient and renewable energy) strategy as well as disaster risk reduction and the extent that green technologies can offer risk management benefits for insurance industry to expand their involvement in the green technology marketplaces. However, the systemic promotion of green technologies need to be encouraged as an element of a new insurance paradigm based on sustainable development and the prevention of losses from disasters. With the potentials of business and innovation opportunity of green technology development, Malaysia could be a regional player in the green investment market.