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Strengthened response on climate risk by financial institutions bears fruit, says regulators

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Identifying climate and sustainable financing needs that can be mobilised through the financial sector.

In a joint statement today, Bank Negara Malaysia and the Securities Commission said the Joint Committee on Climate Change continues to engage with the relevant ministries, government agencies and corporates to identify climate and sustainable financing needs that can be mobilised through the financial sector.

She added that the JC3 remained committed to addressing these challenges, alongside increased efforts to scale up transition finance. "Towards this end, the JC3 has conducted a series of engagements, including a meeting with four key ministries in July to forge closer collaboration with the government,” he added.

The JC3 held its eighth meeting on Aug 29, 2022 and would continue to focus on several priorities including the issuance of the Task Force on Climate-Related Financial Disclosures Application Guide for Malaysian Financial Institutions.

 

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