: Malaysia is doing relatively well in developing sustainable finance and enabling policy frameworks compare with other ASEAN countries, said the World Bank Group.
Didier said closing data gaps and enhancing information systems should be a policy priority, where an effective implementation of taxonomies and disclosure standards, with the ultimate goal of wider implementation across the private sector at large. According to the World Bank’s Unleashing Sustainable Finance In Southeast Asia report, taxonomy in the context of sustainable finance refers to definitions that provide a categorisation of specific sustainable investments or economic activities within it.
The reports also revealed that the ASEAN-5 economies with relatively more developed sustainable financial markets — especially Malaysia — also tend to have more developed enabling policy frameworks.