Driving #financeforchange in Malaysia — what the regulators say

Given its importance to the economy and influence over corporates and individuals, the financial sector plays a crucial role in driving changes for a sustainable future. In Malaysia, the sector has made some encouraging progress in terms of stepping up to the challenge. Financial institutions, especially the bigger ones, have begun to formulate their long-term strategies towards sustainability. And, increasingly, more of them are encouraging customers to adopt sustainable practices through their lending, underwriting, advisory and so on.

But clearly, more needs to be done and the regulators are making sure of this. Late last month, the Joint Committee on Climate Change (JC3), an initiative co-chaired by Bank Negara Malaysia and the Securities Commission Malaysia (SC), hosted its flagship conference on climate change. Themed “Finance for Change”, the virtual event brought together more than 1,000 participants comprising financial practitioners, policymakers and advocates, with the aim of sharing knowledge, best practices and solutions in tackling climate change.

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