Malaysia needs to double its investment in renewable energy transition to at least US$375 billion to meet its ambitious goal of becoming carbon neutral by 2050, the International Renewable Energy Agency (IRENA) said on Thursday. This would reduce energy-related emissions by up to 60%, avoid cumulative energy, climate and health cost savings of $9 billion to $13 billion annually, and phase out fossil fuel subsidies. Investment must come from private investment and from abroad, including multilateral financial institutions, bilateral and regional arrangements.