|
Kuala Lumpur, 28 July – Coordination and collaboration between Asean member states, from strategic investments into sustainable infrastructure to climate adaptation, are urgently required to overcome geopolitical divisions and meet the 2030 Sustainable Development Goals deadline, said decision-makers across Malaysia and Asean at the Unlocking capital for sustainability conference held in Kuala Lumpur on 28th July. Southeast Asia is facing both exponential growth in energy demand, projected to rise by 60 per cent by 2040, and a US$1.5 trillion deficit to fund net-zero targets. Global headwinds – from fragmentation and disrupted supply chains to volatile financial markets – threaten to divert the necessary investments away from low carbon and clean energy transitions. Dato’ Sri Haji Fadillah bin Haji Yusof, Deputy Prime Minister of Malaysia and Minister of Energy Transition and Water Transformation, who was guest-of-honour at the conference, said sustainable finance and accessible green energy serve as “strategic enablers” of investment and innovation. “By strengthening our financial ecosystem and regulatory frameworks, we are unlocking private capital and improving green electricity access in creating the conditions for market-driven climate action and inclusive economic transformation,” he said in his keynote address at the sustainability summit held in Securities Commission Malaysia, Bukit Kiara. “It is incumbent upon all Asean member states to work closely together to advance regional energy integration, mobilise capital for clean energy investments and align policies to enable a just, inclusive and resilient energy transition,” he added. Dato’ Mohammad Faiz Azmi, chairman for Securities Commission Malaysia, said the region must also advance efforts in adaptation in the face of accelerating climate change. Asean is in the midst of developing a Mitigation, Adaptation, Resilience and Sustainable Finance (MARS) Framework to enhance the usability and functionality of the ASEAN Taxonomy for Sustainable Finance. “MARS will provide a much-needed framework for identifying adaptation projects and financing options in the region as well as prioritise key focus areas for adaptation. It is envisaged to serve as a toolkit for companies and funders to assess adaptation technologies and solutions; ultimately directing funding towards these projects. The core problem to address is that many adaptation projects do not generate returns so we need a blended finance approach to funding them,” he said during his welcome address at the conference. Malaysia is also spearheading efforts to launch the ASEAN Common Carbon Framework which aims to create a unified, transparent and efficient carbon market for the region to both accelerate sustainability and share environmental responsibility. Dr Sugumari Shanmugam, senior director of ASEAN Economic Integration Division for the Ministry of Investment, Trade and Industry, who provided the closing remarks, highlighted that Asean member states face disparities in their development and financial capabilities. “As such, there is a need for robust capital markets and financial systems that can support investment, innovation, job creation, business resilience as well as sustainable development. Therefore, strong corporate governance can be a key to attract and build confidence of investors and ensure sustainable, long-term growth,” she said during her address. Themed “Fostering inclusive and sustainable growth for Asean”, the Malaysian edition of the thought leadership forum, organised by Eco-Business in partnership with United Nations Environmental Programme Finance Initiative (UNEP FI), and supported by strategic partners Capital Markets Malaysia and AmBank Group, convened over 240 leading decision-makers across government, finance, industry and academia. The high-level forum, which was the fourth in Malaysia, provided the opportunity to assess Malaysia and the region’s progress in navigating a shifting global landscape marked by rising political, economic and social tensions to realise Asean’s shared vision of creating an inclusive and resilient future. “Multilateralism will underpin Asean’s transition, but this is only possible through investments in international cooperation, robust regulatory frameworks and deeper and more impactful stakeholder collaboration. Asean is well-positioned to lead on this, with new economic opportunities and innovation emerging across the region. The challenge is finding the right blend of public and private capital to scale investments into sustainable infrastructure amid a fractured global trade environment,” said Jessica Cheam, founder and CEO of Eco-Business. “For 50 years, AmBank Group has grown with Malaysia – empowering individuals, supporting businesses and contributing to the nation’s progress. That purpose remains unchanged, but the context has evolved. Sustainability is no longer an ambition; it is our legitimacy to operate. As a strategic partner of this event, we aim to strengthen conversations and foster collective solutioning towards an inclusive and sustainable Malaysia, benefiting the generations to come,” said Amanah Aboobucker, Chief Sustainability Officer for AmBank Group. The summit covered the critical issues facing governments, businesses and society today, including geopolitics, transition finance, artificial intelligence, energy transition and climate adaptation and resilience. For the full agenda, speakers and event partners, please view our conference programme. It also hosted an exclusive training workshop, “Unlocking strategic value through climate disclosures”, on 29 July to provide companies and decision-makers the tools to navigate the evolving landscape for sustainability reporting, while improving transparency, attracting sustainable capital and embedding resilience into corporate strategy. Unlocking capital for sustainability is hosted in six markets across Asia in 2025. It held the Hong Kong edition in March, and Jakarta in June. It will travel to Manila on 28 August, Bangkok on 30 September as part of Bangkok Action Climate Week and with the closing summit held in Singapore on 21 October this year to mobilise high-level decision-makers across finance, business, government and civic society to discuss and commit to actionable initiatives to unlock finance for pressing sustainable development needs. For more information on Unlocking capital for sustainability, visit our website and download our insights report from 2024. – Ends – |
|
|
|
ANNEX Plenaries include:
|
|
Notes to Editors: For enquiries or photos, please contact: Mark Rao, Eco-Business About Eco-Business Established in 2009, Eco-Business is Asia Pacific’s leading media and advisory platform dedicated to sustainable development. It publishes high quality, trusted content that advances dialogue and enables measurable impact on a wide range of sustainable development and responsible business issues. Eco-Business is headquartered in Singapore, with a presence in Beijing, Hong Kong, Manila, Kuala Lumpur, Jakarta, and correspondents across major cities in Asia Pacific. Visit www.eco-business.com. About UNEP FI UNEP Finance Initiative brings together a large network of banks, insurers and investors that collectively catalyses action across the financial system to deliver more sustainable global economies. For more than 30 years the initiative has been connecting the UN with financial institutions from around the world to shape the sustainable finance agenda. We’ve established the world’s foremost sustainability frameworks that help the finance industry address global environmental, social and governance (ESG) challenges. Convened by a Geneva, Switzerland-based secretariat, more than 500 banks and insurers with assets exceeding US$170 trillion work together to facilitate the implementation of UNEP FI’s Principles for Responsible Banking and Principles for Sustainable Insurance, as well as three UN-convened net-zero alliances. Financial institutions work with UNEP FI on a voluntary basis, and we help them to apply the industry frameworks and develop practical guidance and tools to position their businesses for the transition to a sustainable and inclusive economy. Founded in 1992, UNEP FI was the first organisation to engage the finance sector on sustainability and incubated the Principles for Responsible Investment, now the world’s leading proponent of responsible investment. Today, we cultivate leadership and advance sustainable market practice while supporting the implementation of global programmes at a regional level across Africa & the Middle East, Asia Pacific, Europe, Latin America & the Caribbean and North America. More details about UN Environment can be found at www.unepfi.org. About Unlocking capital for sustainability Unlocking capital for sustainability is an annual flagship event organised by Eco-Business in partnership with UNEP FI that brings together high-level decision makers in finance, business, government and civic society to discuss and commit to actionable initiatives that mobilise the capital markets for sustainable development projects. Our full list of knowledge partners – past and present – can be found on our website: www. |
Publish your content with EB Publishing
It's about who you reach. Get your news, events, jobs and thought leadership seen by those who matter to you.
