KUALA LUMPUR – The ASEAN Taxonomy for Sustainable Finance was fully adopted by Malaysia’s Joint Committee on Climate Change (JC3) as the basis for the country’s taxonomy. Before the framework’s full mandatory reporting adoption in 2028, it will go under a pilot program with a few chosen financial institutions with the goal of improving cross-border interoperability and simplifying reporting obligations for firms. In order to facilitate the rollout, the JC3 introduced National Sustainability Reporting Framework (NSRF) Guidance Documents for financial institutions and showcased advancements under its Climate Finance Innovation Lab (CFIL), which has enrolled 22 transition and adaptation projects that are looking for funding totaling RM1.73 billion.
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(Source: Bank Negara Malaysia; Business Today)
