: Malaysia has urged developed nations to meet their commitments and fulfil their responsibility by providing adequate, accessible and impactful climate finance.
“Although mandates and resources are available, there continues to be divergences in the common understanding of pooling and mobilising climate finance. “If funding from developed nations was forthcoming, Malaysia would be able to do so much more. Currently, we are formulating our third-generation Nationally Determined Contribution , which we commit to submit next year.
He said this document outlines the country’s pathway to achieving its NDC target of a 45 per cent reduction in economy-wide greenhouse gas emission intensity by 2030 relative to 2005 levels and our long-term commitment to reaching net zero by 2050. He said Malaysia is also finalising its national arrangement to operationalise Article 6 of the Paris Agreement for the private sector, which can benefit all parties involved.