The Joint Committee on Climate Change (JC3), co-chaired by Bank Negara Malaysia (BNM) and the Securities Commission Malaysia (SC), has reaffirmed its commitment to advancing climate action through collaborative initiatives, following its 15th meeting on Aug 7.
The meeting, which welcomed nine new members to reflect broader industry representation, discussed global supply chain pressures, technological readiness gaps, and the need for a pragmatic pathway towards net zero.
BNM assistant governor and JC3 co-chair Madelena Mohamed said strong interest in the Climate Finance Innovation Lab (CFIL), launched in June, is “encouraging”, but “broader and deeper industry participation is crucial” to accelerate progress.
CFIL has attracted projects across energy transition, circular economy, sustainable agriculture, and biodiversity, including strategic initiatives like the ASEAN Power Grid.
JC3 will also co-develop a unified Malaysian Taxonomy on Sustainable Finance, aligned with the ASEAN Taxonomy, and support the rollout of the National Sustainability Reporting Framework (NSRF) in the financial sector.
It plans to publish the fourth JC3 Data Catalogue in November to address data gaps for climate risk assessment and transition planning.
SC executive director and JC3 co-chair Salmah Bee Mohd Mydin noted that better climate-related data will improve adaptation financing and NSRF disclosures.
The committee will host its inaugural SME climate conference on Nov 17, themed Building Climate Resilience: Practical Actions for SMEs, offering tools and solutions for small businesses to transition to low-carbon models.
Source: https://themalaysianreserve.com/2025/08/11/malaysia-to-boost-climate-finance-sme-resilience-in-net-zero-push/