Capital Markets Malaysia (CMM) as secretariat to the Malaysian Sustainable Finance Initiative (MSFI), hosted a virtual engagement amongst 9 key stakeholders within the banking and finance sector to have a ‘a real conversation’ about the commitments to advancing sustainable finance. The engagement was attended by YB Senator Tengku Dato’ Sri Zafrul Tengku Abdul Aziz, Finance Minister of Malaysia and Patron of the MSFI, Datuk Syed Zaid Albar, Chairman of the Securities Commission Malaysia, and Sir Ian Cheshire, Chairman of Barclays Bank UK.
In efforts to enable Malaysia to meets its Paris Agreement commitments, the roundtable which was moderated by Stephen Nolan, Co-Director, UNEP Inquiry, Managing Director, Financial Centres for Sustainability (FC4S), did not just discuss the sustainable agenda and the commitments to the Task Force on Climate-Related Financial Disclosures (TCFD), but also addressed several salient matters such as;
- What is the best way forward to transition towards sustainability while supporting the real economy?
- The importance of the Nationally Determined Contributions and Sustainable Finance Roadmap to be established by science-based facts
In efforts to position Malaysia as a sustainable developmental hub, conversations have been initiated to shift the focus from awareness of sustainable finance to implementation and execution of programmes and initiatives to develop a comprehensive and holistic Sustainable Finance Roadmap. Alongside the Ministry of Finance’s commitments to push this agenda forward, MSFI will also keep an account of the efforts to integrate sustainability at every step of the financial value chain.