SC urges financial sector to help businesses become greener, more resilient

The Securities Commission Malaysia (SC) is calling on the financial sector, including the capital market, to support funding for businesses to transition to a low-carbon economy. SC managing director Datuk Kamarudin Hashim stated that Malaysia will need between RM1.2 trillion and RM1.3 trillion in funding for renewable energy, energy efficiency, and green mobility to achieve its energy transition goals by 2050. The financial sector, particularly the capital market, will play a key role in facilitating the financing and investments needed to support the country’s priorities and commitments. To facilitate fund raising, reliable sustainability-related information will be crucial. The SC is working on a National Sustainability Reporting Framework and Principles-based Sustainable and Responsible Investment (SRI) Taxonomy to guide the industry. Collaboration among regulators, corporations, academia, and civil society is essential to drive meaningful change towards sustainable development and climate policies in Malaysia.