Climate Finance Innovation Lab Onboards 30 Projects, Funding Needs Exceed RM4 Bln
KUALA LUMPUR, Feb 6 (Bernama) -- The Joint Committee on Climate Change (JC3) Climate Finance Innovation Lab (CFIL) has onboarded 30 projects as of January 2026, with total funding needs exceeding RM4 billion.
According to a joint statement by Bank Negara Malaysia (BNM) and the Securities Commission Malaysia (SC), CFIL has rolled out several initiatives since its inception, including the Accelerator Programme and the Capital Solutioning Lab.
“In the period ahead, CFIL will focus on the solutioning aspects, including project readiness and viability support, and strengthening public-private philanthropic partnerships,” it said.
BNM assistant governor and JC3 co-chair Madelena Mohamed said CFIL underscores the importance of diverse capital providers coming together to design innovative funding structures for novel and higher-risk climate-related projects that may not yet meet traditional risk-return metrics.
“Without such collaboration to help smooth private, public and philanthropic partnerships, projects that are vital to national sustainability goals will remain underfunded.
“Bridging this gap also requires a longer-term approach to risk and return,” she said.
Meanwhile, SC chief sustainability officer and JC3 co-chair Neetasha Rauf said promoting viable opportunities to finance climate adaptation and strengthen resilience against climate risks remains a key priority for JC3.
“The Malaysia Taxonomy, which will be science-based and aligned with the ASEAN Taxonomy, will be an important tool to guide capital towards activities that catalyse the transition of activities in the real economy towards a more sustainable footing.
“Industry players can also refer to the ASEAN Capital Markets Forum (ACMF) Phase 1 White Paper for the Development of the Mitigation Cobenefit and Adaptation for Resilience (mARs) Guide to facilitate identification of investable climate adaptation activities and technologies, thereby enhancing project bankability under CFIL,” she said.
The JC3 held its 16th meeting on Jan 29, 2026, to review ongoing progress and set strategic priorities for 2026.
At the meeting, JC3 also reaffirmed its priority of accelerating climate action in the real economy by mobilising finance for impactful climate- and nature-positive projects, while acknowledging the successful delivery of initiatives in 2025, including those under Malaysia’s ASEAN Chairmanship.
“Building on this momentum, JC3 will continue to focus its efforts on strengthening the ecosystem for climate and sustainable finance.
“This includes the development of the Malaysia Taxonomy as a consistent and unified national classification framework for sustainable finance, which will align with the ASEAN Taxonomy.
“A call for feedback on the Malaysia Taxonomy’s design and scope will be issued at the end of February to gather views on adoption and implementation considerations,” it added.
-- BERNAMA