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JC3 to establish Climate Finance Innovation Lab

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Climate Finance Innovation Lab,JC3,Bank Negara

KUALA LUMPUR: Climate finance is crucial for meeting ambitious targets and fostering positive change, thereby ensuring a more sustainable and equitable future, says Datuk Seri Fadillah Yusof.

PETALING JAYA: The Joint Committee on Climate Change will be establishing a Climate Finance Innovation Lab to accelerate decarbonisation efforts via innovative financial solutions.

The JC3 is a platform established in September 2019 to pursue collaborative actions for building climate resilience within the Malaysian financial sector. It is co-chaired by Bank Negara Deputy Governor Datuk Jessica Chew Cheng Lian and SC executive director Salmah Bee Mohd Mydin. “Second, measures to reduce reporting burdens on companies for information furnished to financial institutions. This includes the use of standardised templates by financial institutions to obtain climate-related information from customers, and arrangements to enable companies to allow financial institutions to share their information to other financial institutions with consent.”

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