Deputy Prime Minister Datuk Seri Fadillah Yusof said climate finance is crucial for meeting ambitious targets and fostering positive change, thereby ensuring a more sustainable and equitable future. — Picture by Shafwan ZaidonKUALA LUMPUR, Aug 1 — Climate finance is crucial for meeting ambitious targets and fostering positive change, thereby ensuring a more sustainable and equitable future, said Deputy Prime Minister Datuk Seri Fadillah Yusof.
“We are open to cooperating with various parties, including international financial institutions and private investors, to mobilise the necessary resources for sustainable development projects,” he said in his keynote address at the “Climate Finance Summit 2024: Mobilising Capital for a Just Transition” here, today.
Fadillah noted that mobilising capital for a just transition offers a unique opportunity for long-term economic growth, enhanced social equity and increased investor confidence.“The Intergovernmental Panel on Climate Change continues to issue stark warnings about the accelerating impacts of climate change.
He also reiterated the government’s commitment to steering Malaysia towards a more sustainable future, including raising the renewable energy capacity target to 70 per cent by 2050, up from the previous 40 per cent target by 2035.