In 2019, the Securities Commission Malaysia (SC) was appointed by Ministry of Energy, Science, Technology, Environment and Climate Change, (MESTECC) to form the Malaysian Green Financing Taskforce (MGFT) aimed to provide recommendations and action plans on how to accelerate the growth of green financing, particularly in renewable energy. The SC chairs the MGFT, which includes nine other members representing financial regulators, institutional investors, banks, asset managers and government agencies involved in the renewable energy sector.

After a six months’ study on green financing, the MGFT submitted its recommendation containing 21 action items under eight broad strategies to facilitate an estimated RM33 billion in renewable energy financing required to meet the 20 percent national renewable energy target installed capacity by 2025.